Philippines' Rizal plans to call PHP 4 billion 7¾% lower tier 2 notes

By Marisa Wong

Madison, Wis., Aug. 28 - Rizal Commercial Banking Corp.'s board of directors approved the early redemption of the bank's PHP 4 billion 7¾% subordinated notes due May 15, 2019, according to a 17-C filing with the Philippines Securities and Exchange Commission.

The lower tier 2 notes are callable on May 15, 2014, but the exact terms of the redemption were not disclosed in the filing.

The early redemption is still subject to Bangko Sentral ng Pilipinas approval.

The bank is based in Makati City, Philippines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.