RCBC raises P3B from fresh bond offering

Yuchengco-led Rizal Commercial Banking Corp. (RCBC) raised P3 billion from a local bond sale that saw significant demand from investors.

In a statement on Monday, RCBC said the money would support business expansion, loan refinancing and other general corporate purposes.

The fixed-rate Asean Sustainability Peso Bond offering, concluded earlier this month, was the company’s sixth foray in the local market.

---

---

It was also heavily subscribed with demand reaching almost P17.9 billion or about 5.9 times the offer size, RCBC said.

The bonds will be issued at a fixed coupon of 3.2 percent per annum for the 2.5-year tenor and 4.18 percent per annum for the 5.25-year.

---

---

Meanwhile, the securities will be listed on the Philippine Dealing and Exchange Corp. on March 31 this year.

RCBC said the offer was issued under its P100-billion bond and commercial paper program.

Standard Chartered Bank was mandated as the sole lead arranger and bookrunner together with RCBC Capital Corp. as financial adviser.

---

Article and Photo originally posted by Inquirer last March 23, 2021 5:16am and written by Miguel R. Camus.

About Post Author