RIZAL Commercial Banking Corp. (RCBC) has raised a record P20.5 billion from its latest peso-denominated bond issuance, signaling strong investor appetite for sustainability-linked investments.
In a disclosure on Wednesday, RCBC said it successfully issued fixed-rate Series G Asean Sustainability Bonds due 2029 with an annual coupon of 6.08 percent.
The bonds were listed on the Philippine Dealing and Exchange Corp. on April 8.
The issuance marked RCBC’s largest peso-denominated bond offering to date, surpassing its initial minimum target of P5 billion, after strong demand pushed the order book to more than four times the planned size.
The bank also closed the offer ahead of schedule last March 17, earlier than the original March 27 deadline, after completing the fundraising in just four days.
Proceeds from the bond sale will be used to finance or refinance eligible green and social projects under RCBC’s Sustainable Finance Framework, in line with the bank’s broader push to support environmentally and socially responsible initiatives.
The bonds form part of RCBC’s P200-billion bond and commercial paper program. The latest transaction was the ninth time that the bank has tapped the domestic bond market, bringing its total bond issuances since 2019 to P119.5 billion.
RCBC said the strong take-up reflected sustained investor confidence in the bank’s growth strategy and sustainability agenda.
Standard Chartered Bank and RCBC Capital Corp. acted as joint lead arrangers and bookrunners for the transaction and also served as selling agents along with RCBC.
RCBC shares on Wednesday rose P0.10, or 0.42 percent, to close at P24.10 each amid a 2.22-percent advance for the benchmark Philippine Stock Exchange index.