Philippines’ Rizal plans benchmark issue of dollar-denominated notes

By Marisa Wong

Madison, Wis., Jan. 12 – Rizal Commercial Banking Corp. announced an offering of benchmark-sized dollar-denominated senior fixed-rate notes.

The drawdown off the bank’s $1 billion medium-term note program is expected to have a term of five-years and one day.

Standard Chartered Bank is the lead arranger and bookrunner.

Proceeds will be used to finance operations and for general corporate purposes, including the refinancing of the bank’s $250 million of 6¼% notes due Feb. 9, 2015.

The issue date is slated for Jan. 21.

The bank is based in Makati City, Philippines.

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