Rizal Commercial Banking Corp. (RCBC), the country’s sixth-largest lender, has successfully listed its Series F ASEAN Sustainability Bonds due 2028 on the Philippine Dealing and Exchange Corp. (PDEx), raising a total of P12.21 billion.
The peso-denominated green bonds, which carry a coupon rate of 6.00 percent, closed their offering on July 9. RCBC said the strong demand allowed it to raise more than four times its initial target of P3 billion.
Proceeds from the issuance will be used to finance or refinance projects aligned with the bank’s Sustainable Finance Framework, which includes eligible green and social initiatives.
The offering forms part of RCBC’s P200-billion bond and commercial paper program. It is the bank’s eighth bond issuance since 2019, bringing its total capital raised under the program to P99.01 billion.
RCBC said the strong market response reflects continued investor confidence in the bank’s financial strength and its commitment to sustainability.
The Yuchengco-led bank said the bond issuance reinforces its strategy to support responsible and inclusive growth, while demonstrating our strong access to capital markets.
RCBC has been expanding its sustainable finance portfolio in line with global environmental, social, and governance (ESG) standards. The bank has consistently tapped the domestic bond market to support initiatives that address climate change, promote renewable energy, and improve social outcomes.
