Think green! Yuchengcos to raise P3B from RCBC’s sustainability bonds

Rizal Commercial Banking Corp. (RCBC) of the Yuchengco family is returning to the onshore debt market with the issuance of sustainability bonds worth at least P3 billion.

The move is in line with efforts to support the bank’s asset growth and refinance maturing obligations.

RCBC is issuing fixed-rate peso sustainability bonds under its P100-billion bond and commercial paper program.

“As it continues to raise funding allocated for sustainability assets whenever there is an opportunity, RCBC shows its commitment in providing the investing public a way to participate in these types of assets when available,” RCBC said.

“This fund raising exercise encourages both borrowers and lenders to join the push of the country and the global community towards making the world that we live in greener and sustain,” the bank added.

RCBC has tapped HSBC as the sole lead arranger and bookrunner, while RCBC Capital Corp. will serve as the financial advisor.

The bond offer will run from January 31 to February 11, unless shortened or extended by the issuer.

RCBC has raised a total of P72.04 billion under the program since 2019. It last tapped the domestic debt market in March last year when it raised P17.87 billion.