RCBC to raise P3B from bond market

MANILA, Philippines – Rizal Commercial Banking Corp. (RCBC) is set to raise at least P3 billion from the domestic debt market, mostly to fund sustainability-related projects.

In a stock exchange filing on Monday, the Yuchengco-led bank said it had an option to upsize the offer, which would have a tenor of two years and six months.

This represents RCBC’s eighth drawdown from its P200-billion bond and commercial paper program.

READ: RCBC raising $4B from fresh bond foray

“The funds to be raised from the offer will be used to finance or refinance, in whole or in part, the eligible green and social categories as described in the bank’s sustainable finance framework,” RCBC said in its disclosure.

The offer will run from June 25 to July 9, with listing on the Philippine Dealing and Exchange Corp. scheduled on July 17.

RCBC has yet to finalize the offer price.