Rizal Commercial Banking Corp. said Thursday it raised P12.21 billion from the sale of fixed-rate, peso-denominated Series F ASEAN Sustainability Bonds which are due 2028.
The bonds, listed in the Philippine Dealing and Exchange Corp. (PDEx), carry an annual interest rate of 6.0 percent.
RCBC said investor interest was strong, with the total demand reaching over four times the minimum offer size of P3 billion at end of the offer period.
It said proceeds from the bond sale would fund projects under the bank’s Sustainable Finance Framework. This includes financing or refinancing green and social initiatives.
The Series F bonds form part of RCBC’s P200-billion Bond and Commercial Paper Program. This is the eighth time the bank tapped the peso bond market, bringing its total bond issuance since 2019 to P99.01 billion.
RCBC said it is the only Philippine bank to have issued back-to-back sustainability bonds in both US dollars and pesos in 2025, with a total equivalent of nearly P32 billion.
The bank said this shows its “unwavering commitment to supporting its clients’ sustainable endeavors and advancing the Philippines’ sustainability goals.”
Standard Chartered Bank and RCBC Capital Corp. acted as joint lead arrangers and bookrunners for the offer.
RCBC reported a 10-percent increase in consolidated net income to P2.43 billion in the first quarter of 2025 as gross revenue climbed 20 percent to P14.7 billion, driven by a 39-percent surge in consumer loans.
Net interest income jumped 29 percent to P12.3 billion as consumer loans went up 39 percent on higher housing and auto loans, which climbed by 24 percent and 45 percent, respectively.
