MANILA, Philippines --- Aboitiz-led Union Bank of the Philippines (UnionBank) has raised P5.8 billion from a new offering of local retail bonds, proceeds from which will supplement its funding base and support business expansion plans. The three-year bonds carried a coupon rate of 6 percent, the bank said in a press statement on Thursday. This is the second bond issuance by UnionBank, following the issuance of P11 billion bonds last December 7. The bank announced an initial P3 billion offering size, but ended up upsizing the deal after receiving strong demand from institutional and retail clients. The brisk demand also allowed UnionBank to price the bonds at the lower end of its...
Keep on reading: Union Bank raises P5.8B from bond offer
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