Unionbank offers P10 billion bond issuance starting June 4

Unionbank announced it will offer at least P10 billion from its dual-tranche bond issuance, starting June 4 to 19.

The issuance includes 1.5-year Series H bonds with an annual yield of 5.88 percent and three-year Series I bonds due 2028 at a 6.02-percent yield per annum.

These securities will be issued, settled, and listed on the Philippine Dealing and Exchange Corp. on June 26, with ING Bank NV Manila Branch, Philippine Commercial Capital Inc., and Standard Chartered Bank as joint lead arrangers and bookrunners.

Unionbank's P100-billion bond program, approved in February, allows for increased issuance based on market demand and is part of the bank’s strategy to tap more funds for future projects.

The timing of this issuance coincides with market expectations of another interest rate cut by the Bangko Sentral ng Pilipinas (BSP), making fixed-income securities like bonds more appealing to investors.