RCBC raises P20.5 billion from Asean bond sale

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April 9, 2026 | 12:00am

MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) has raised a record P20.5 billion from its latest peso-denominated sustainability bond issuance, reflecting strong investor appetite despite market volatility.

In a disclosure, the Yuchengco-led bank said it successfully issued fixed-rate Series G ASEAN Sustainability Bonds due 2029, which were listed on the Philippine Dealing and Exchange Corp. on April 8. The bonds carry a fixed coupon rate of 6.08 percent per annum.

The issuance marks RCBC’s largest peso-denominated bond offering to date, underscoring continued access to domestic funding markets.

“This is a significant milestone as RCBC’s largest peso-denominated issuance to date,” the bank said, noting that the bonds “saw robust demand from retail and institutional investors resulting to an orderbook more than four times the announced minimum issue size of P5 billion.”

The strong demand allowed RCBC to upsize the offering to P20.5 billion, with the bank completing the issuance within four days of the public offer period. The offer was concluded on March 17, ahead of its original timeline of March 27.

Proceeds from the bond sale will be used to finance or refinance eligible green and social projects in line with RCBC’s Sustainable Finance Framework, the bank said.

The Series G bonds form part of RCBC’s broader P200-billion bond and commercial paper program. With the latest issuance, the bank said its cumulative bond issuances since 2019 have reached P119.5 billion.