Rizal Commercial Banking Corporation (RCBC) is set to return to the domestic capital markets with its latest issuance of fixed-rate, peso-denominated sustainability bonds, which is targeting a base offer of PHP3 billion under its existing PHP200 billion Bond and Commercial Paper Program.
This upcoming offering marks the eighth drawdown under RCBC’s program and is part of the bank’s wider strategy to fund environmentally and socially beneficial initiatives. The bonds will have a 2.5-year tenor and are expected to be listed on the Philippine Dealing and Exchange Corp. (PDEx) by July 17, 2025.
According to a disclosure by RCBC, the proceeds from the offer will be used to finance or refinance projects falling under eligible categories within the bank’s Sustainable Finance Framework. These wide array of categories include investments in renewable energy, energy efficiency, clean transportation, pollution control, and other green and social initiatives that align with national sustainability goals.
RCBC has applied with the Securities and Exchange Commission (SEC) for the bonds to be officially labeled under the ASEAN Sustainability Bond Standards. This is a regional benchmark designed to promote transparency and accountability in sustainable finance. While the bank expects confirmation, the actual SEC approval is still pending.
The public offer period for the bonds will run from June 25 to July 9, 2025, subject to market conditions and final approval by management. The transaction will be arranged by Standard Chartered Bank and RCBC Capital Corporation. These two are also acting as selling agents alongside RCBC.
In its official statement, the bank emphasized that this latest issuance highlights its continuing commitment to a “greener and more sustainable future,” by channeling funds into eligible sustainability assets. The bond offering also demonstrates growing market interest in investments that support environmental and social development, especially in line with the country’s clean energy and low-carbon transition targets.
RCBC remains one of the country’s most active issuers of sustainability-labeled debt, reinforcing the financial sector’s role in supporting the Philippines’ climate and energy resilience agenda.
(This article was orginally published at Power Philippines)
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