MANILA, Dec. 3 (PNA) — Listed Yuchengco-led Rizal Commercial Banking Corp. (RCBC) started issuing on Wednesday its long-term negotiable certificates of deposits (LTNCDs) to raise Php2 billion initially.
The LTNCDs, which have a tenor of 5.5 years, are offered at a rate of 4.0 to 4.125 percent.
The offer period is until Dec. 12, with the issue date tentatively set for Dec. 19.
RCBC mandated The Hongkong and Shanghai Banking Corporation Limited (HSBC) as sole arranger for this offering, while the RCBC, RCBC Savings Bank, HSBC and Multinational Investment Bancorporation (MIB) as selling agents.
The deposit products will be listed on the Philippine Dealing & Exchange Corp. (PDEx). (PNA)