dearJulius.com

RCBC eyes P3B from bonds

RIZAL Commercial Banking Corp. started offering three-year bonds on Monday.

RIZAL COMMERCIAL Banking Corp. is looking to raise at least P3 billion via three-year peso-denominated bonds, part of a fund-raising program that aims to extend the maturity of the bank’s liabilities and strengthen its liquidity ratios.

In a disclosure to the local bourse on Monday, the bank said the bonds, which will mark the third issuance out of its P100-billion bond and commercial paper program, are being offered at a fixed interest rate of 4.426% per annum.

The offer period for the bonds started yesterday and is set to end on Nov. 6. The papers are scheduled to be listed on the Philippine Dealing and Exchange Corp. on Nov. 13.

Standard Chartered Bank was appointed as the sole arranger and book runner for the transaction.

The lender’s Board of Directors approved in July the increase in its bond program to P100 billion from P30 billion.

RCBC first tapped the local bond market in February, issuing P15 billion in ASEAN green bonds. It also issued P8 billion in sustainability bonds in June.

BAYAD CENTER TIEUP
Meanwhile, RCBC said it has inked a deal with CIS Bayad Center, Inc. for the integration of the bank’s digital basic account, lending, and Malayan’s insurance products into the mobile app of Bayad Center.

“The inclusion of bank and insurance products into Bayad Center’s mobile app will enable its over 10 million customer base to have seamless access to basic banking transactions such as savings account opening, loan application, travel, health and personal accident insurance, making basic financial products more accessible and convenient for every Filipino,” the lender said in a separate statement on Monday.

Through the partnership, a cash-in and cash-out facility for RCBC’s Diskartech initiative which offers digital financial services such as micro-insurance, micro-financing, bills payment, as well as gaming e-load will be available in 34,000 Bayad Center touch points. The deal also includes the deployment of the bank’s mobile automated teller machines in 500 Bayad Center Branches which can be used by beneficiaries of conditional cash transfers who need to encash with their card issued by the Land Bank of the Philippines.

Moreover, the tie-up will launch the Bankard-Bayad Center utility credit card which is the first of its kind that can be used for enrollment and automatic payment of customer’s monthly bills.

Over 2,000 billers of the Bayad Center will also be available in RCBC’s mobile app, online banking and Diskartech.

“In compliance with data privacy laws, RCBC will also utilize the alternative credit scoring algorithm for new-to-credit Filipinos enabling Bayad Center app users to quickly avail of affordable and immediate access to credit,” the lender said in a statement, noting that credit conditioning will be done through the consumer’s utility bill payment behavior with their explicit consent.

RCBC’s net profit in the second quarter jumped 31.78% to P1.356 billion from P1.029 billion in the same period in 2018.

The bank’s shares closed unchanged at P25.90 apiece on Monday. — L.W.T. Noble

The post RCBC eyes P3B from bonds appeared first on BusinessWorld.

See more at: BusinessWorld

COMMENTS



Like & Follow to Stay Updated ...


Made with in NYC
Name

BusinessWorld,115,Manila Bulletin,2,
ltr
item
Philippines Banking and Finance: RCBC eyes P3B from bonds
RCBC eyes P3B from bonds
https://www.bworldonline.com/wp-content/uploads/2017/05/RCBC-BW-062618.jpg
Philippines Banking and Finance
https://banking-finance.ph.dearjulius.com/2019/10/rcbc-eyes-p3b-from-bonds.html
https://banking-finance.ph.dearjulius.com/
https://banking-finance.ph.dearjulius.com/
https://banking-finance.ph.dearjulius.com/2019/10/rcbc-eyes-p3b-from-bonds.html
true
2065174130902003267
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content