Philippines’ Rizal Commercial Banking offers 5˝-year negotiable CDs

By Marisa Wong

Morgantown, W.Va., Sept. 10 – Rizal Commercial Banking Corp. announced it has launched an offering of long-term negotiable certificates of deposit.

The offer period for the 5˝-year CDs will run from Sept. 10 to Sept. 21. Settlement is slated for Sept. 28.

HSBC is the lead manager and also a selling agent alongside Multinational Investment Bancorp, Rizal and RCBC Savings Bank.

The Makati City, Philippines-based bank previously obtained approval to issue up to PHP 20 billion of negotiable CDs. This will be the bank’s first tranche.

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