The total order book was more than five times oversubscribed. The base offer for the issuance amounted to only P3 billion.
RCBC said the bonds, marked the fifth tranche under its P100 billion bond and commercial paper program, have a coupon rate of 3.25% per annum and would be listed on the Philippine Dealing and Exchange Corp. on July 27.
Proceeds from the offering will be used to support the bank’s asset growth, re-finance maturing liabilities, and fund other general purposes.
ING Bank N.V. Manila Branch was the sole lead arranger and bookrunnerfor the offer, while RCBC Capital Corp. was the financial advisor for the offer.
RCBC is engaged in traditional banking, investment banking, microfinance, retail financing (auto, mortgage and housing loans, and credit cards), remittance, leasing, foreign exchange, and stock brokering.