Union Bank of the Philippines (UnionBank) today announced the commencement of the public offer for its 1.5-year Senior Fixed Rate Series H Bonds due 2026 and 3-year Senior Fixed Rate Series I Bonds due 2028 (collectively, the “Bonds”). These bonds are being issued under UnionBank’s expanded PHP Bond Program, which now has a limit of up to ₱100 billion, as approved by its Board of Directors on February 28, 2025.
The offering will feature a minimum aggregate principal amount of ₱5 billion per tranche, with an option for oversubscription. The 1.5-year Series H Bonds will carry an interest rate of 5.88% per annum, while the 3-year Series I Bonds will offer an interest rate of 6.02% per annum. Investors can participate with a minimum investment of ₱100,000, and in multiples of ₱50,000 thereafter.
The public offer period for the Bonds runs from June 4, 2025, to June 19, 2025. The Bonds are anticipated to be issued, settled, and listed on the Philippine Dealing Exchange (PDEX) on June 26, 2025.
ING Bank N.V., Manila Branch (“ING”), Philippine Commercial Capital, Inc. (“PCCI Capital”), and Standard Chartered Bank (“SCB”) are serving as the Joint Lead Arrangers and Bookrunners for this transaction. They are also acting as Selling Agents for the offering, alongside UnionBank. Please note that ING, PCCI Capital, SCB, and UnionBank retain the right to adjust the public offer period as necessary.
