Union Bank of the Philippines successfully raised P9 billion of peso denominated fixed rate bonds via a dual tranche offering.

This is the third bond issuance by UnionBank from its P39 billion bonds program.

The 3Y tranche raised a total of P8.115 billion and carries an interest rate of 2.750 percent.

On the other hand, the 5.25Y tranche raised a total of P885 million and carries an interest rate of 3.375 percent.

The bonds will be issued and listed on the Philippine Dealing and Exchange Corp. on Dec. 9, 2020. As a result of the healthy demand from investors, the issuance was upsized by three times the initial target issue size of P3 billion. / PR