Rizal Commercial Banking Corporation (RCBC) has begun the public offer of its Series G ASEAN Sustainability Bonds due 2029, offering investors a 6.08% annual coupon.
The peso-denominated bonds, part of RCBC’s P200-billion bond and commercial paper program, have a tenor of three years from issuance and a minimum issue size of P5 billion, with the option to increase the offer depending on investor demand.
The offer period runs from March 12 to March 27, unless shortened or extended, the bank said.
Retail and institutional investors may participate with a minimum investment of P100,000, with additional placements in increments of P10,000.
RCBC said proceeds from the offering will be used to finance or refinance eligible green and social projects under its sustainable finance framework.
“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 said.
The Securities and Exchange Commission confirmed that the bonds comply with ASEAN Sustainability Bond Standards and Philippine sustainability bond guidelines.
Subject to market conditions, issuance, settlement and listing on the Philippine Dealing and Exchange Corporation are expected on April 8.
Standard Chartered Bank and RCBC Capital Corporation are the joint lead arrangers and bookrunners for the transaction.
