RCBC CONCLUDES OVERSUBSCRIBED FIXED RATE BOND OFFERING

Yuchengco-led Rizal Commercial Banking Corporation (RCBC) closed its two-year Peso fixed rate bond offering (the “Bonds”) on 15 July 2020, ahead of its original public offer end date of 17 July 2020 as orders have reached more than five times its announced minimum issue size of PHP 3 billion, allowing the bank to raise an aggregate of around PHP 16.6 Billion.

The Bonds will be the fifth tranche under RCBC’s PHP100 billion Bond and Commercial Paper Programme established on 17 March 2020. It was offered in denominations of PHP100,000 and increments of PHP10,000 thereafter, issued at a coupon of 3.25% per annum.  The Bonds are expected to be listed on the Philippine Dealing and Exchange Corporation (PDEx) on 27 July 2020.  Proceeds from the offering will be used to support the Bank’s asset growth, re-finance maturing liabilities, and fund other general purposes.

ING Bank N.V. Manila Branch (“ING”) is the Sole Lead Arranger and Bookrunner for the offer, while RCBC Capital Corporation (“RCBC Capital”) is the Financial Advisor for the offer.  The Selling Agents for the Bonds are ING and RCBC.