Philippines’ Rizal gets final approval to redeem 9 7/8% perpetuals

By Marisa Wong

Madison, Wis., May 29 – Rizal Commercial Banking Corp. received approval from the Bangko Sentral ng Pilipinas for the early redemption of its $100 million of 9 7/8% non-cumulative step-up perpetual securities, according to a 17-C filing with the Philippine Securities and Exchange Commission.

The bank has not yet set the early redemption date.

The bank’s board of directors had approved the redemption in March. At the time, the bank said the hybrid tier 1 notes would be callable beginning Oct. 27, 2016.

The bank is based in Makati City, Philippines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.