RCBC eyes P5B for environmental projects
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) hopes to raise at least P5 billion from the sale of Peso ASEAN sustainability bonds.
Proceeds from the offering will be used solely for green projects up for financing.
It has tapped Dutch bank ING as the arranger of the bond issue
The bonds will mature in two years and will earn 6.15% annually. The offering will run from May 14 to 28.
RCBC treasurer and senior executive vice president Horacio Cebrero III said this marks the first issuance of bonds under the Asean Sustainability Bond Standards 2018.