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March 05, 2024

UnionBank raises P18.17 billion in largest peso-denominated bond issuance

Union Bank of the Philippines, Inc. (UnionBank) successfully raised P18.168 billion in its recent offerings of 1.5-year and three-year senior bonds.

This surpasses the initial combined issue size of at least P2 billion due to “strong demand” from private and public investors, marking its largest peso-denominated issuance under the current fundraising program, according to a disclosure to the local bourse.

The bank raised P10.3385 billion via the 1.5-year senior fixed-rate Series F bonds due 2025 and P7.8295 billion through the senior fixed-rate three-year Series G bonds due 2026, with both bonds being part of UnionBank’s P50-billion bond program.