By Marisa Wong
Morgantown, W.Va., Jan. 22 – Rizal Commercial Banking Corp. has decided to shorten the public offer period for its PHP 15 billion 6.7315% green bonds due August 2020, according to a press release.
The offer period, which began on Jan. 21, will now end on Jan. 22 instead of Jan. 25.
The issue date has been set for Feb. 1.
The company mandated Hongkong and Shanghai Banking Corp. Ltd. and ING Bank NV, Manila Branch to arrange the issuance. ING is the green structuring adviser for Rizal’s green finance framework, according to the release.
At pricing, the books were more than three times oversubscribed from the initially announced issue size of PHP 5 billion, according to a prior press release.
Proceeds will be used to finance and refinance Rizal’s loans to customers or the company’s own operating activities that have to do with renewable energy, green buildings, clean transportation, energy efficiency and pollution prevention and control.
The bank is based in Makati City, Philippines.
| Issuer: | Rizal Commercial Banking Corp.
|
| Issue: | Green bonds
|
| Amount: | PHP 15 billion
|
| Maturity: | August 2020
|
| Arrangers: | Hongkong and Shanghai Banking Corp. Ltd. and ING Bank NV, Manila Branch
|
| Coupon: | 6.7315%
|
| Pricing date: | Jan. 18
|
| Offer period: | Jan. 21-Jan. 22
|
| Settlement date: | Feb. 1
|
© 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.
