RCBC raises $200m for bond buying

19 Jan 2012

Philippine bank Rizal Commercial Banking Corp (RCBC) sold $200m of five year dollar bonds on Wednesday, its first fundraising exercise under a $1bn MTN programme. The lender will use the proceeds to invest in other international debt issues.

The bank’s first foray into the dollar bond market in two years was priced at 5.25%, said Raul Victor Tan, RCBC’s senior vice president, treasury group.

The deal offered a premium of around 25bp over its existing 2015 bond, and with the extra two years, the new bond should ...

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