Rizal Commercial Banking Corp. (RCBC) will be returning to the domestic bond markets with its planned offer of Fixed Rate Peso Sustainability Bonds, which will be the seventh tranche of its P100 Billion Bond and Commercial Paper Program.
The bonds, which are intended to be issued as sustainability bonds under the Asean Sustainability Bond Standards subject to confirmation from the Securities and Exchange Commission, will have a tenor of two years and three months (2.25 years) from date of issuance.
The bank is looking to raise at least P3 billion, with an option to upsize. The funds to be raised from the offer will be used to support asset growth, refinance maturing liabilities and other general funding purposes in line with the bank’s Sustainable Finance Framework.
The bank said this fund raising exercise encourages both borrowers and lenders to join the push of the country and the global community towards making the world that we live in greener and sustainable. (PR)