By Christine Van Dusen
Atlanta, Oct. 27 – Philippines’ Rizal Commercial Banking Corp. priced an upsized $320 million issue of 3.45% notes due in February 2021 (expected ratings: Baa3//BB) at par to yield 3.45%, a market source said.
The notes came tighter than talk for a yield in the 3¾% area.
BofA Merrill Lynch, HSBC and JPMorgan were the bookrunners for the Regulation S deal.
The bank is based in Makati City, Philippines.
| Issuer: | Rizal Commercial Banking Corp.
|
| Amount: | $320 million
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| Maturity: | February 2021
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| Description: | Notes
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| Bookrunners: | BofA Merrill Lynch, HSBC, JPMorgan
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| Coupon: | 3.45%
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| Price: | Par
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| Yield: | 3.45%
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| Trade date: | Oct. 26
|
| Expected ratings: | Moody’s: Baa3
|
| Fitch: BB
|
| Distribution: | Regulation S
|
| Price talk: | 3¾% area
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