Union Bank of the Philippines (UnionBank) on Wednesday opened the offer period for its dual-tranche senior fixed-rate bonds, with a minimum aggregate issue size of ₱5 billion per tranche.
In a disclosure to the Philippine Stock Exchange, UnionBank said the bonds — offered in 1.5-year and 3-year tenors — will be available until 19 June.
The 1.5-year bonds carry an interest rate of 5.88 percent per annum and will mature in 2026, while the 3-year bonds offer 6.02 percent per annum and will mature in 2028.
The minimum investment for each tranche is P100,000, with additional increments of P50,000 allowed.
These offerings are part of the bank’s P100-billion peso-denominated Bond Program, approved by the Board of Directors on 25 February 2025.
ING Bank N.V., Philippine Commercial Capital, Inc., and Standard Chartered Bank serve as joint lead arrangers, bookrunners, and co-selling agents for the bond offering.
The bonds are scheduled to be issued, settled, and listed on the Philippine Dealing & Exchange Corp. on 26 June.
UnionBank launched the P100-billion Bond Program in May following a reported 8.4 percent year-on-year revenue growth to P19.4 billion in the first quarter of 2025. The growth was driven by a surge in consumer loans, which now comprise 62 percent of the bank’s total loan portfolio.
The bank also reported an expanded client base, now exceeding 17 million.
“Moving forward, we expect performance to get back to this trajectory, and we remain confident that we will exceed our 2024 performance,” said UnionBank Chief Financial Officer Manuel Lozano.