RIZAL Commercial Banking Corporation (“RCBC” or the “Bank”) returns to the domestic bond markets with its planned offer of fixed-rate peso-denominated Sustainability Bonds (the “Bonds”), which will be its eighth drawdown from its PHP200 billion Bond and Commercial Paper Program (the “Programme”).
The Bonds are intended to be issued as sustainability bonds under the ASEAN Sustainability Bond Standards, subject to confirmation from the Securities and Exchange Commission (”SEC”). The Bank has applied with the SEC for an ASEAN label for the sustainability Bonds under the ASEAN Sustainability Bond Standards, and while it expects to receive such confirmation, there is no assurance that such confirmation will be obtained.
The Bank plans to offer a minimum of PHP3.0 billion, with the option to upsize. The Bonds will have a tenor of two years and six months (2.5 years) from the date of issuance. The funds to be raised from the offer will be used to finance or refinance, in whole or in part, the eligible green and social categories as described in the Bank’s Sustainable Finance Framework.
The Bank continues to raise funding to be allocated for sustainability assets, reinforcing its commitment to a greener and more sustainable future.
Standard Chartered Bank (“SCB”) and RCBC Capital Corporation (“RCBC Capital”) are the Joint Lead Arrangers and Bookrunners (the “Joint Lead Arrangers and Bookrunners”) for this transaction. The Selling Agents will be SCB and RCBC (the “Selling Agents”).
The public offer period is slated to commence on 25 June 2025 and will run until 9 July 2025, subject to final management determination, market, and other conditions. The Bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp on 17 July 2025.
The joint lead arrangers and bookrunners and the selling agents reserve the right to update the Offer terms, periods, and dates prescribed above, as deemed appropriate and with due notice.
