Unionbank rolls out P10-B dual-tranche bond offer

MANILA, Philippines — Union Bank of the Philippines launched on Wednesday a P10-billion dual-tranche bond offer as the market anticipates another interest rate cut.

In a stock exchange filing, Unionbank said it would offer a minimum of P5 billion per tranche.

The issuance is composed of 1.5-year series H bonds at 5.88 percent per annum, and three-year series I bonds at 6.02 percent per annum.

Unionbank has an option to upsize the offer in case of high demand.

The notes, which are part of Unionbank’s P100-billion bond program, will be offered from June 4 to 19.

READ: UnionBank ups bond plan to P100B

These will be issued, settled and listed on the Philippine Dealing and Exchange Corp. on June 26.

This comes as the market anticipates another interest rate cut, which can make fixed-income securities like bonds more attractive.

READ: UnionBank delivered P12-B net income in 2024