Listed Rizal Commercial Banking Corp. (RCBC) has generated P16.6 billion in fresh funds from its latest bond offering. In a statement on Thursday, the Yuchengco-led lender said the amount was five times more than its original minimum issue size of P3 billion. Citing strong demand, the bank also said it closed the two-year fixed rate bond offering on July 15, ahead of its original public offer end date of July 17. ING Bank N.V. Manila Branch (ING) was the sole lead arranger and bookrunner, while RCBC Capital Corp. was the financial advisor. The bonds form part of RCBC’s P100-billion bond and commercial paper program established on March 17.

Source: Manila Times July 16, 2020 17:58 UTC