RIZAL COMMERCIAL Banking Corp. (RCBC) is planning to offer peso-denominated bonds that could fund sustainable initiatives.
The bank is looking to issue fixed-rate papers that will be drawn down from its P200-billion bond and commercial paper program, it said in a disclosure to the stock exchange on Thursday.
In 2022, RCBC doubled the size of its bond program from the original P100 billion approved by its board in 2019.
“Proceeds from any offer are intended to support the bank’s asset growth, refinance maturing liabilities and other general funding purposes, and may also be utilized for financing or refinancing of new or existing sustainable projects as defined under, and consistent with the bank’s Sustainable Finance Framework, among others,” the bank said.
“Under the program, the bank may, from time to time, offer, issue and sell the remaining balance of unissued unsecured and unsubordinated peso-denominated bonds in such form, amount, tenor, number of tranches, at such interest rate, and under such other terms and conditions as the bank may subsequently determine or approve,” it added.
RCBC said the terms and the timetable of each fundraising tranche will be announced accordingly and will depend on market conditions and management approval.
The bank last tapped the domestic market in July last year via an offering of ASEAN Sustainability Bonds, from which it raised P12.21 billion, well above the minimum issue size of P3 billion as it saw strong demand from investors.
The notes have a tenor of two years and six months and carry a coupon rate of 6% per annum.
The issue marked the eighth drawdown from its P200-billion bond and commercial paper program.
This brought total issuances under the program to P99.01 billion.
In January last year, the bank also raised $350 million from an offering of five-year sustainability bonds priced at 5.375% per annum, which were issued out of its $4-billion medium-term note program and under its Sustainable Finance Framework.
RCBC’s attributable net income rose to P2.83 billion in the third quarter of 2025 from P1.77 billion a year prior. This brought its nine-month profit to P8.18 billion, rising by 32% year on year from P6.22 billion.
The bank’s shares closed unchanged at P25.70 apiece on Thursday. — BVR
