RCBC Closes Tier 2 Offer Period Early
Manila—(PHStocks)—Rizal Commercial Banking Corp. (PSE: RCB) closed the public offer period for its unsecured subordinated Tier 2 Notes offering early.
“The demand for our Tier 2 Notes exceeded our target of PhP5 billion, and we decided to issue PhP7 billion to accommodate orders from clients. We are very happy with the outcome of our offering and the overwhelming support of our clients,” said Jose Emmanuel U. Hilado, RCBC Senior Executive Vice President (SEVP) and Treasurer.
The Tier 2 Notes will bear a coupon of 5.375% and will be issued on 27 June 2014.