2 weeks Union Bank’s return to overseas bond market raises $300M Inquirer
Aboitiz-led Union Bank of the Philippines has raised $300 million in low-cost funds from a warmly received bond offering that marked its return to the overseas market for the first time since 2017. Union Bank disclosed to the Philippine Stock Exchange on Friday that the notes due October 2025 had been priced to yield 2.125 percent a year, about 195 basis points above comparable five-year US Treasury bonds. Due to strong demand, the local bank was able to price the bonds at a rate 35 basis points tighter than the initial guidance. Union Bank said the book-building attracted 117 quality ... more