Rizal Commercial Banking Corp., one of the largest banks in the country, plans to raise at least P3 billion from the issuance of fixed-rate peso sustainability bonds, the seventh tranche of its P100-billion bond and commercial paper program.
RCBC said in a disclosure to the stock exchange Tuesday the bonds would have a tenor of two years and three months (2.25 years) from the date of issuance. These are intended to be issued as sustainability bonds under the ASEAN Sustainability Bond Standards, subject to confirmation from the Securities and Exchange Commission.
“The bank is looking to raise at least P3.0 billion, with an option to upsize. The funds to be raised from the offer will be used to support asset growth, refinance maturing liabilities and other general funding purposes in line with the bank’s Sustainable Finance Framework,” it said.
“As it continues to raise funding allocated for sustainability assets whenever there is an opportunity, RCBC shows its commitment in providing the investing public a way to participate in these types of assets when available,” it said.