Coat a large saucepan with cooking spray; add oil. Place pan over medium-high heat until hot. Add rice; saute until rice is golden. Add onion and pepper; saute 2 to 3 minutes or until vegetables are tender. Add chicken broth and next 3 ingredients. Bring to a boil. Cover, reduce heat, and simmer 20 minutes. Remove from heat; let stand 5 minutes or until liquid is absorbed. Remove and discard bay leaf. Stir in cilantro.