By Aaron Hochman-Zimmerman
New York, Feb. 22 - Rizal Commercial Banking Corp. (//B+) priced a PHP 7 billion of unsecured subordinated lower tier II notes at par with a coupon of 7%, according to a market source.
HSBC and ING acted as the bookrunners for the deal.
The notes are callable in July, 2008.
Rizal is a Manila-based retail and investment bank.
| Issuer: | Rizal Commercial Banking Corp.
|
| Amount: | PHP 7 billion
|
| Issue: | Unsecured subordinated lower tier II notes
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Call options: | Callable in July 2008
|
| Bookrunners: | HSBC, ING
|
| Pricing date: | Feb. 22
|
| Ratings: | Fitch: B+
|
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