PROJECT

Projects

Summary of Investment Information

Project Number

37489

Company Name

RIZAL COMMERCIAL BANKING CORPORATION

Date SPI Disclosed

Oct 23, 2015

Country

Philippines

Region

East Asia and the Pacific

Projected Board Date

Oct 21, 2015

Environmental Category

FI-1 - Significant

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Oct 23, 2015
Signed : Oct 26, 2015
Invested : Nov 2, 2015

Sector

Commercial Banking - General

Project Description

Given positive outlook on the Philippine economy over the medium term and its need for long term funding, Rizal Commercial Banking Corporation (RCBC or the Bank) is planning to raise a bond with tenor of up to 10 years for up to USD300 million. Since this is RCBC’s first long-term USD bond issuance to the market particularly in the 7 and 10 year tenors, IFC is proposing to support the issuance through being an anchor investor for up to USD75 million.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation