RCBC Board Approves Early Redemption of Unsecured Subordinated Notes
Makati—(PHStocks)—The Board of Directors of Rizal Commercial Banking Corporation (RCBC, PSE:RCB) approved the early redemption of the Bank’s PhP7 billion 7% Unsecured Subordinated Notes or Lower Tier 2 (LT 2) Issue with an original maturity date of February 22, 2018 under the exercise of Redemption at the Option of the Issuer on February 22, 2013.
The early redemption of the LT 2 is still subject to Bangko Sentral ng Pilipinas (BSP) approval.