Union Bank of the Philippines, the country’s 9th largest lender by assets, began the public offering on Wednesday of its latest debt securities—aiming to raise at least P10 billion to support funding needs.
The Aboitiz-led bank is offering two tranches of peso-denominated senior fixed-rate bonds: 1.5-year Series H Bonds, maturing in 2026, and 3-year Series I Bonds, due in 2028. These will be issued under UnionBank’s PHP Bond Program, which the bank’s board recently increased to a total limit of ₱100 billion.
Each tranche will have a minimum aggregate principal amount of P5 billion, with an option to accept oversubscriptions. The Series H Bonds carry an annual interest rate of 5.88 percent, while the Series I Bonds offer 6.02 percent interest. The minimum investment for each series is set at P100,000.
The public offer period will run until June 19, unless extended or shortened by the lead arrangers.
The bonds are scheduled to be issued, settled, and listed on the Philippine Dealing & Exchange Corp. (PDEX) on June 26.
ING Bank N.V. Manila Branch, Philippine Commercial Capital, Inc. (PCCI Capital), and Standard Chartered Bank (SCB) are serving as the Joint Lead Arrangers and Bookrunners for the issuance.
UnionBank’s bond offer comes amid robust investor appetite for high-quality corporate debt, offering fixed returns at competitive rates in a stable macroeconomic environment.
