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Nov 27, 2017 @ 18:06

Phenomenal: UnionBank raises extra $100M from global notes offer


The appetite is strong for this bank.

Interest and confidence towards Union Bank of the Philippines has been so strong that the lender decided to add $100 million to its offering of fixed-rate dollar debt notes abroad.

The bank initially raised $400 million in five-year papers as part of its $1-billion medium-term note program, but decided to jack it up to $500 million after bids reached an overwhelming $3.2 billion during the offering to foreign investors.

The papers carry a 3.369% annual interest and have been given a Baa2 investment grade status by Moody’s Investors Service.

Citigroup Global Markets Limited and Standard Chartered Bank acted as joint lead managers and joint bookrunners for the transaction, which earned strong demand following roadshows to companies from Singapore and Hong Kong.

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