Yuchengco-led Rizal Commercial Banking Corp. (RCBC) raised P3 billion from a local bond sale that saw significant demand from investors.
In a statement on Monday, RCBC said the money would support business expansion, loan refinancing and other general corporate purposes.
The fixed-rate Asean Sustainability Peso Bond offering, concluded earlier this month, was the company’s sixth foray in the local market.
It was also heavily subscribed with demand reaching almost P17.9 billion or about 5.9 times the offer size, RCBC said.
The bonds will be issued at a fixed coupon of 3.2 percent per annum for the 2.5-year tenor and 4.18 percent per annum for the 5.25-year.
Meanwhile, the s…
Keep on reading: RCBC raises P3B from fresh bond offering