RCBC lists P2.5B long-term notes
Rizal Commercial Banking Corporation (RCBC) is raising fresh capital through the fixed income market.
The Yuchengco-owned bank has listed P2.502 billion worth of long-term negotiable certificates of deposit under the Philippine Dealing & Exchange Corp. on Friday, Aug. 11.
In a disclosure, RCBC said the notes carry a fixed rate at 3.75%, with the coupons to mature by August 2023. The fundraising exercise is seen to arm the bank with cash to support expansion plans, alongside general purposes.
Investors can start with a minimum placement of P50,000 and increments of P10,000.