MANILA, Philippines – Rizal Commercial Banking Corp. (RCBC) has successfully raised a historic P20.5 billion through its latest peso-denominated sustainability bond issuance, setting a new benchmark as the bank's largest debt offering to date.
In an official statement, the Yuchengco-led financial institution announced that the Series G bonds, which carry a fixed annual coupon rate of 6.08 percent and are due in 2029, were formally listed on the Philippine Dealing and Exchange Corp. this week.
"The overwhelming demand from both retail and institutional investors propelled the offer, with the order book surging to more than four times the minimum issue size of P5 billion," the bank reported.
The public offer period, which concluded on March 17, saw the issuance completed in just four days—well ahead of the original March 27 deadline. This rapid execution underscores robust market appetite for the instrument.
Proceeds from the landmark bond sale are earmarked to finance or refinance eligible green and social projects under RCBC's established sustainable finance framework. The transaction represents the ninth time RCBC has accessed the local peso bond market and forms part of its broader P200-billion bond and commercial paper program.
With this latest issuance, RCBC's cumulative bond fundraising since 2019 has reached P119.5 billion, reflecting sustained investor confidence in the bank's strategic funding initiatives.
Standard Chartered Bank and RCBC Capital Corp. acted as joint lead arrangers, bookrunners, and selling agents for the offering. RCBC emphasized that the strong market reception highlights resilient demand for sustainable investment vehicles as the institution continues to diversify and strengthen its funding base.