August 29, 2025 | 12:00am
MANILA, Philippines — Yuchengco-led Rizal Industrial Banking Corp. (RCBC) redeemed in full its $300 million funding bonds, enabling the financial institution to maximise the effectivity of its capital construction.
In a disclosure to the Philippine Inventory Trade, RCBC introduced the redemption in filled with all of the 6.5 p.c non-cumulative subordinated further tier 1 (AT1) capital securities from capital suppliers.
As soon as it completes the total redemption of all excellent capital securities, RCBC mentioned the capital securities could be canceled and delisted from the Singapore Trade Securities Buying and selling Ltd.
“The issuer needs to announce that it has immediately made cost for the redemption in filled with all of the excellent capital securities at one hundred pc of its principal quantity,” RCBC mentioned.
AT1 are specialised debt devices that banks situation to boost further funds and assist strengthen its capital base.
Issued on the peak of the COVID-19 pandemic in August 2020, the financial institution’s AT1 capital securities had been supplied to traders to strengthen its monetary place and increase capital in help of resilience amid financial uncertainty.
The Bangko Sentral ng Pilipinas has cleared RCBC to redeem the capital securities in June, which varieties a part of the agency’s AT1 capital beneath the worldwide Basel III requirements.