UnionBank hikes bond issuance size to P11Bhome/Business/Corporate News/UnionBank hikes bond issuance size to P11BSTRONG demand again prompted Union Bank of the Philippines (UnionBank) on Monday to increase the size of its maiden peso bond issuance to P11 billion, a week after the lender doubled it to P10.5 billion. The fixed-rate bonds would have a tenor of two years and a coupon rate of 7.061 percent per annum that is payable every quarter. Its loans grew by 18.6 percent to P315.3 billion year-on-year, with retail loans accounting for 33 percent of the total. First incorporated as Union Savings and Mortgage Bank on Aug. 16, 1968, UnionBank acquired its license to operate as a universal bank in July 1992. UnionBank shares shed 50 centavos to close at P67.20 apiece on Monday.

Source: Manila Times December 03, 2018 16:07 UTC