UnionBank to float $1B dollar bonds under Euro note program
This bank wants to raise more funds from foreign sources.
Aboitiz-led Union Bank of the Philippines bared plans to raise as much as $1 billion abroad via a Euro medium term note program.
In a disclosure, the bank told the Philippine Stock Exchange that its board of directors approved the borrowing plan during their meeting on Monday, Oct. 2. As if this is not enough, UnionBank will also be floating P20 billion worth of long-term negotiable certificates of deposit in the Philippines.
Looks like they are up for some serious lending and spending.