Rizal Commercial Banking Corp. (RCBC) has launched the sale of up to P3 billion in fixed-rate, peso-denominated Series F ASEAN Sustainability Bonds, part of its P200-billion bond and commercial paper program.
The bonds carry a fixed interest rate of 6 percent per annum and a tenor of two years and six months, with a minimum investment of P100,000 and increments of P10,000 thereafter. The offer comes with an option to upsize, depending on investor demand.
Proceeds from the issuance will be used to finance or refinance eligible green and social projects under RCBC’s Sustainable Finance Framework. These include initiatives that support environmental sustainability and social development goals.
The offer period began Wednesday, 25 June, and will run until 9 July, unless extended or shortened by the bank in coordination with its joint lead arrangers and bookrunners, Standard Chartered Bank and RCBC Capital Corp., who also serve as selling agents.
RCBC said the Securities and Exchange Commission (SEC) has certified the bonds’ compliance with the ASEAN Sustainability Bond Standards and relevant Philippine guidelines, qualifying the issuance as an ASEAN Sustainability Bond.
The bonds are scheduled to be issued, settled, and listed on the Philippine Dealing and Exchange Corp. on 17 July.
