The Asian Legal Business (ALB) awarded the AT1 Securities Offering of Rizal Commercial Banking Corporation (RCBC) as the Debt Market Deal of the Year (Midsize). This recognition was given during the ALB’s 6th Annual Philippine Law Awards.
ACCRALAW acted as Philippine counsel of 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.