April 19, 2018, 7:57 pm
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RCBC raises $300M notes

Rizal Commercial Banking Corporation (RCBC) successfully raised $300 million Senior Unsecured Fixed Rate Reg S Notes via a drawdown under its $2,000,000,000 Medium Term Note Program.

This offering follows successful fixed income investor calls and roadshow meetings in Singapore and Hong Kong from 6 to 7 March 2018.

The Notes, rated Baa2 by Moody’s, will be issued at 99.892 with a coupon of 4.125 percent per annum and a tenor of 5 years plus 1 day.

The Notes, in denominations of $200,000 and increments of $1,000 thereafter, will settle on March 15 and mature on March 16, 2023. 

The Notes will be listed on the Singapore Exchange Securities Trading Limited, similar to its other two outstanding USD-denominated bonds.

The order book was strongly supported by a broad base of accounts, including asset managers, insurance companies, sovereign wealth funds, banks and private wealth managers. 97 percent was allocated to investors in the Philippines and Asia.

RCBC will use the proceeds to support and finance medium term to long term asset growth and other general corporate purposes.

Cathay United Bank, Citigroup, Deutsche Bank, Standard Chartered Bank, UBS and Wells Fargo Securities acted as Joint Lead Managers and Joint Bookrunners for the drawdown.

RCBC is a leading financial services provider in the Philippines offering a wide range of banking and financial products and services. 

RCBC is engaged in all aspects of traditional banking, investment banking, micro finance, retail financing (auto, mortgage and housing loans, and credit cards), remittance, leasing, foreign exchange, and stock brokering. 

RCBC is a member of the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates in South East Asia. 
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