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.
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