Union Bank of the Philippines has started the public offer for up to P10 billion worth of fixed-rated bonds.
UBP said Wednesday in a disclosure to the stock exchange that it will sell bonds with a minimum aggregate principal amount of P5 billion, with an oversubscription option in case of strong demand. The bonds will be issued in two tranches, namely the
the 1.5-year senior fixed rate Series H bonds due 2026 and the 3-year senior fixed rate Series I bonds due 2028.
The bonds are part of UBP’s Philippine peso bond program.
The Series H bonds will have an interest rate of 5.88 percent per year, while the Series I bonds will have an interest rate of 6.02 percent per year.
The minimum investment amount for each bond is P100,000, with additional investments allowed in multiples of P50,000.
The public offer period will run from June 4 to June 19, 2025.
The bonds are planned to be issued, settled, and listed on the Philippine Dealing & Exchange Corp. (PDEX) on June 26, 2025.
ING Bank N.V., Manila Branch, Philippine Commercial Capital, Inc. (PCCI Capital), and Standard Chartered Bank are the joint lead arrangers and bookrunners for the offer. They are also selling agents along with UnionBank.
“ING, PCCI Capital, SCB, and UnionBank reserve the right to adjust the public offer period of the Bonds as needed,” the bank said.
The board of UBP in February increased the bank’s peso bonds program to P100 billion from P50 billion. It also approved the issuance of up to P30 billion out of the bonds program.
UBP earlier reported a lower net income of P1.4 billion in the first quarter of 2025, despite strong revenue growth.
The decline was mainly due to one-time tax-related write-offs and front-loaded non-recurring costs.
Total revenues reached P19.4 billion, an increase of 8.4 percent compared to the same period last year.
