RIZAL Commercial Banking Corp. (RCBC) returned to the US dollar debt markets, successfully pricing a US$400 million five-year Senior Unsecured Fixed Rate Sustainability Bonds via a drawdown under its $3,000,000,000 Medium Term Note Program.
The notes, rated Baa3 by Moody’s, will be issued at 99.543 with a coupon of 5.500 percent per annum and a maturity date of Jan. 18, 2029. The notes will be issued under the Sustainable Finance Framework of RCBC.
The notes, issued with denominations of $200,000 and increments of $1,000 thereafter, will settle on Jan. 17, 2024.
The notes will be listed on the Singapore Exchange similar to the bank’s other two outstanding USD-denominated bonds.
The net proceeds from the issue of the notes will be applied by RCBC to support and finance and/or refinance RCBC’s loans to customers or its own operating activities in eligible green and social categories as defined in RCBC’s Sustainable Finance Framework.