RCBC offers 1st tranche of LTNCDs worth P20 billion

posted September 10, 2018 at 08:15 pm
by  Julito G. Rada
Rizal Commercial Banking Corp., the 10th-largest lender in terms of assets, started offering on Monday the first tranche of the long-term negotiable certificates of time deposits earlier approved by the Bangko Sentral ng Pilipinas.

“This is to inform the exchange that Rizal Commercial Banking Corp. is offering its first tranche of Long-Term Negotiable Certificates of Time Deposit (LTNCDs) due 2024 out of the P20 billion approval granted by the Monetary Board of the Bangko Sentral ng Pilipinas last July 12, 2018,” the bank told the stock exchange.

The bank did not say the amount of the first tranche of LTNCD offering.

It set the offering period for the first tranche of the LTNCDs from Sept. 10 to 21, 2018, with the issue and listing date possibly on Sept. 28, 2018.

The LTNCDs will have a tenor of five years and six months.

LTNCDs are bank products with long tenors which are offered to investors looking for a higher interest rate compared to regular savings accounts or shorter-term deposits. 

Topics: Rizal Commercial Banking Corp. , Bangko Sentral ng Pilipinas , Monetary Board
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by The Standard. Comments are views by thestandard.ph readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of thestandard.ph. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with The Standard editorial standards, The Standard may not be held liable for any false information posted by readers in this comments section.