RCBC raises P12.21 billion via sustainability bonds – BusinessWorld Online
RIZAL COMMERCIAL Banking Corp. (RCBC) has raised P12.21 billion from its offering of peso-denominated 2.5-year sustainability bonds.
“Strong demand from investors resulted in an order book more than four times its announced minimum issue size of P3 billion,” the bank said in a disclosure to the stock exchange on Thursday.
“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.”
The offer period for the fixed-rate peso-denominated Series F ASEAN Sustainability Bonds due in 2028 ran from June 25 to July 9. RCBC listed the papers on the Philippine Dealing and Exchange Corp. on Thursday (July 17).
The notes have a tenor of two years and six months and carry a coupon rate of 6% per annum.
The issue marked RCBC’s return to the domestic bond market after more than three years.
It also made up the eighth drawdown from its P200-billion bond and commercial paper program, which was approved by the board in 2019 and upsized in 2022.
This brought total issuances under the program to P99.01 billion.
Standard Chartered Bank (SCB) and RCBC Capital Corp. were the joint lead arrangers and bookrunners for the transaction. SCB was also a selling agent along with RCBC.
“RCBC is also proud to be the only Philippine bank to have issued back-to-back sustainability bond issuances in dollar and peso totaling to an equivalent of nearly P32 billion in 2025, reinforcing the bank’s unwavering commitment to supporting its clients’ sustainable endeavors and advancing the Philippines’ sustainability goals,” the bank said.
The bank raised $350 million from its offering of five-year sustainability bonds in January priced at 5.375% per annum, which were issued out of its $4-billion medium-term note program and under its Sustainable Finance Framework.
RCBC’s attributable net income rose by 10.26% to P2.43 billion in the first quarter.
Its shares closed unchanged at P25 apiece on Thursday. — A.M.C. Sy
