RCBC Offers First Tranche of LTNCDs
Rizal Commercial Banking Corp. (RCBC, PSE: RCB) is offering its first tranche of Long-Term Negotiable Certificates of Time Deposit (LTNCDs) due 2024 out of the PhP20 billion approval granted by the Monetary Board of the Bangko Sentral ng Pilipinas last July 12, 2018.
The offer period for the first tranche of the LTNCDs will be from September 10 to 21, 2018 and the issue and listing date is targeted for September 28, 2018.
The LTNCDs will have a tenor of five years and six months.
The Hongkong and Shanghai Banking Corp. Ltd (HSBC) is the sole lead manager for the transaction, and is also acting as a selling agent alongside Multinational Investment Bancorporation, RCBC and RCBC Savings Bank.