RCBC raises P12.21B from sustainability bonds

Rizal Commercial Banking Corporation (RCBC) has successfully raised P12.21 billion from its latest issuance of sustainability bonds denominated in pesos.

The robust investor demand resulted in an order book more than four times the initial offer size of P3 billion, with the bonds carrying a coupon rate of 6 percent per annum and due in 2028.

Proceeds raised from the bond issuance will be used to finance or refinance eligible green and social projects under RCBC's sustainable finance framework, including renewable energy, clean transportation, and affordable housing.

RCBC listed these fixed-rate peso-denominated Series F ASEAN Sustainability Bonds on the Philippine Dealing & Exchange Corp. on Thursday (July 17), marking its eighth bond issuance since 2019 with a total amount raised of P99 billion.

Standard Chartered Bank and RCBC Capital Corp. served as joint lead arrangers and bookrunners for this offering.