Early Redemption for RCBC’s PhP10 B Notes Due 2024

Rizal Commercial Banking Corp. (PSE: RCB) is retiring PhP10 billion worth of debt ahead of schedule to save on interest payments after successfully raising PhP15 billion from a fund raising activity early this year.

Ma. Christina Alvarez, corporate planning head at RCBC, said in a disclosure the bank’s board of director approved the exercise of a call option to redeem its PhP10 billion 5.375 percent Tier 2 capital notes issued in June 2014.

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