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Published March 12, 2021, 4:57 PM
Rizal Commercial Banking Corporation, one of the largest banks in the Philippines, is raising at least P3 billion from its planned 2.5-year and 5.25-year Fixed-Rate ASEAN Sustainability Peso Bond offering.
In a disclosure to the Philippine Stock Exchange, RCBC said the bonds will be offered with a minimum issue size of P3 billion, with an option to upsize.
The Bonds were priced on March 11, 2021 and will be offered at a fixed interest rate of 3.20 percent per annum for the 2.5-year tenor and 4.18 percent per annum for the 5.25-year tenor.
The funds raised from the Bonds offer will be utilized to support asset growth, re-finance maturing liabilities, other general funding purposes as well as eligible loans defined in the Bank’s Sustainable Finance Framework.