ACCRALAW acted as Philippine counsel of Rizal Commercial Banking Corporation (RCBC) in its issuance of US$300 million 6.50% non-cumulative subordinated Additional Tier 1 (AT1) capital securities. It is RCBC’s first AT1 offering and the first AT1 offering by a Philippine bank.
The Firm’s team was ably led by Andre B. Navato, Jr., a Partner of the Firm’s Corporate and Special Projects Department, Senior Associate Shiree P. Roma, and Associate Mervin C. Ignacio. In addition to RCBC’s AT1 offering, Mr. Navato also advised RCBC in other transactions, including RCBC’s stock rights offering which raised Php15 billion.
RCBC is one of the Firm’s original clients since its founding in 1972 and a member of the Yuchengco Group of Companies.
With in-depth experience, ACCRALAW has consistently been recognized by publications as a leading law firm for Capital Markets in the Philippines.