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Report: Rizal Commercial Banking to raise US$300M via bonds

Rizal Commercial Banking Corp. plans to raise at least US$300 million via an offering of three-year bonds, Philippine Daily Inquirer reported Jan. 10, citing a banking source familiar with the offering.

The indicative price for the bonds is between 4.25% and 4.5% per year, the source said.

The bank said in a Jan. 8 stock exchange filing that it would offer benchmark-sized U.S. dollar denominated senior unsecured notes under its US$2 billion medium-term note program, but did not disclose further details.

Citigroup, Standard Chartered Bank and UBS are the joint book runners for the issuance.