21 February 2022, Makati, Philippines — Rizal Commercial Banking Corporation (RCBC) returned to the local debt market today for the listing of its fifth Green, Social & Sustainability bonds (GSSB) on PDEx. The PHP 14.75626 Billion bonds carry an interest rate of 3.00% per annum to be paid quarterly.
PDEx President and Chief Executive Officer Antonino A. Nakpil opened the listing ceremony and remarked: “This is indeed a great start of the year for GSSB issuances and listings, as we now have PHP 67.46 Billion new issuances from just two bank issuers. And even better is that this sustainable bond has been well received by investors to the point of being 4.9 times oversubscribed from the original size of PHP 3.0 Billion.”
SEC Commissioner Hon. Ephyro Luis B. Amatong also graced the event and delivered a special message. “The strong demand for RCBC’s Fixed Rate ASEAN Sustainability Bonds shows investors continuing interest and support for ASEAN labelled Green, Social & Sustainability bonds, consistent with previous sustainability bonds issued by RCBC.”, said Hon. Amatong.
“Having regularly issue green and sustainability bonds since 2019, RCBC’s status as a true pioneer has placed it ahead of the curve and allowed it to take advantage of the opportunities arising from the continued growth and innovation in sustainable finance.”, added Hon. Amatong.
Meanwhile, RCBC President and CEO Eugene S. Acevedo mentioned: “Despite the challenges brought about by the threat of Omicron, and a crowded domestic bond market, our institutional and retail investors have once again demonstrated their trust in RCBC as reflected in the strong momentum of the transaction.”
This 4th listing for 2022 brings the year-to-date total of new listings to PHP 109.46 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.39 Trillion issued by 53 companies, comprising of 193 securities.