Aboitiz-led UnionBank of the Philippines has raised P9 billion from a local bond offering that was upsized by three times the original target to meet strong demand from the cash-awash market.
The latest issuance of fixed rate bonds via a dual tranche offering is the third part of UnionBank’s P39-billion bond program.
The three-year tenor raised a total of P8.115 billion, carrying an interest rate of 2.75 percent per annum, while the 5.25-year tenor raised P885 million at an interest rate of 3.375 percent annually.
“The third drawdown from the bank’s program is part of our ongoing efforts to extend term liabilities, expand funding base, and also support its business expansion pla…
Keep on reading: UnionBank easily raises P9B from latest bond offering