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Rizal Commercial Banking raises US$300M via sustainability bonds

Rizal Commercial Banking Corp. plans to issue US$300 million of senior fixed-rate sustainability bonds.

The five-year notes were priced with a coupon of 3.000% per year. The will mature Sept. 11, 2024.

The company said it will use the net proceeds from the issuance to finance and refinance loans to customers or its own operating activities in eligible green and social categories.

The bonds will settle on Sept. 11 and will be listed on the Singapore Exchange Securities Trading Ltd. They will be issued under the bank's US$2 billion medium-term note program.

BofA Merrill Lynch, Citigroup, ING and SMBC Nikko are joint book runners for the issuance.