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Rizal Commercial Banking to issue 15B pesos of green bonds

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Rizal Commercial Banking to issue 15B pesos of green bonds

Rizal Commercial Banking Corp. plans issue 15 billion Philippine pesos of ASEAN green bonds.

The 1.5-year green bonds were priced with a coupon of 6.7315%, according to a Jan. 18 stock exchange filing.

The offering marks the first issuance of peso-denominated ASEAN green bonds.

The proceeds from the issuance will be used to finance and refinance the bank's loans to customers, as well as for the lender's initiatives in the green space.

The public offer period starts Jan. 21 until Jan. 25. The bonds will be listed on PDEx on or around Feb. 1.

Hongkong and Shanghai Banking Corp. and ING Bank's Manila branch are arrangers for the issuance.

As of Jan. 17, US$1 was equivalent to 52.53 Philippine pesos.