Money

RCBC raises $300M from global investors

This bank went global with its fund-raising plans.

This bank went global with its fund-raising plans.

The Rizal Commercial Banking Corporation (RCBC) has succeeded in raising new funding from foreign investors.

In a disclosure, the Yuchengco bank said they raised $300 million from senior fixed-rate notes from investors based in Hong Kong and Singapore.

The amount forms part of a maximum $2-billion medium term note programme. The papers carry a 4.125 percent annual interest rate.

?RCBC will use the proceeds to support and finance medium term to long term asset growth and other general corporate purposes,? the bank said.

The notes are listed on the Singapore Exchange Securities Trading Limited.

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