RCBC raises $350 M from offshore bonds

Yuchengco-led Rizal Commercial Banking Corp. (RCBC) has raised $350 million of five-year senior unsecured fixed rate sustainability notes as investors swarmed its bond offering during its return to the offshore bond market.

- By KEISHA TA-ASAN

The issuance was part of the bank's $4-billion medium term note program. The lender said proceeds from the offer would be used to finance or refinance RCBC's loans to customers or its own operating activities in eligible green and social categories under its Sustainable Finance Framework.

"The transaction saw strong interest from a wide range of high quality Asian and European investors, which allowed the bank to tighten final price guidance to 115 basis points over the five-year Treasury yield," RCBC said.