Listed Rizal Commercial Banking Corp. (RCBC) plans to generate at least P3 billion in fresh funds from its fixed-rate Asean (Association of Southeast Asian Nations) sustainability peso bond offering. The bonds will be the RCBC’s sixth drawdown from its P100-billion bond and commercial paper program. According to the bank, its Sustainable Finance Framework has been certified by Sustainalytics, an independent environmental, social and governance research and ratings provider, to ensure that the proceeds’ use are aligned with those recognized by the Green Bond Principles 2018, the Social Bond Principles 2018, the Sustainability Bond Guidelines 2018, and the Asean Sustainability Bond Standards. Last year, RCBC’s net income fell by 6.9 percent to P5.01 billion from P5.38 billion in 2019. RCBC shares decreased by 3 centavos or 1.71 percent to close at P17.20 each on Friday.

Source: Manila Times March 12, 2021 16:23 UTC