Invest in New RCBC Three-Year Fixed-Rate Peso Bonds and Earn 4.42% p.a.
Rizal Commercial Banking Corporation (RCBC) has announced a three-year fixed rate peso bond offering at an interest rate of 4.426% per annum.
According to the bank, the issuance will be the third drawdown off of its P100 billion Bond and Commercial Paper (BCP) program. The target size is a minimum of P3 billion.
The public offer starts Monday, October 28, 2019, and will run until Wednesday, November 6, 2019. The bonds will be listed on the Philippine Dealing and Exchange Corporation (PDEx) on November 13, 2019.
Standard Chartered Bank is the sole arranger and bookrunner for the offering.
RCBC first tapped the local bond market with its P15 billion ASEAN Green Bond issuance in February this year and followed that with the P8 billion ASEAN Sustainability Bonds in June 2019.
In July, RCBC’s board of directors approved the increase of the BCP program from the initial P30 billion to P100 billion as part of the bank’s strategic liquidity management.