Rizal Commercial Banking Corp has raised ₱12.2 billion from its latest peso-denominated ASEAN sustainability bond offering, the bank said on Thursday.
The Series F bonds, which pay an annual interest rate of 6.00%, will mature in 2028 and were listed on the Philippine Dealing and Exchange Corp. on July 17.
RCBC said strong demand led to the offer being more than four times oversubscribed, prompting it to upsize from its initial ₱3 billion target.
Proceeds will be used to fund eligible green and social projects under the bank’s Sustainable Finance Framework.
The fundraising is part of RCBC’s ₱200 billion Bond and Commercial Paper Program. The bank has now raised a cumulative ₱99.01 billion in bond issuances since 2019.
RCBC also noted that it remains the only Philippine lender to issue sustainability bonds in both peso and U.S. dollar tranches this year, with combined proceeds nearing ₱32 billion.
Standard Chartered Bank and RCBC Capital Corp served as joint lead arrangers and bookrunners, while Standard Chartered and RCBC acted as selling agents.
