Union Bank of Philippines completes debut bond

A rare international fixed rate deal from the Philippines banking sector.

Union Bank of the Philippines completed its debut international bond yesterday September 16, bringing a $125 million transaction to market via Credit Suisse First Boston and UBS. The three-year Reg S issue was downsized from $150 million after a sluggish bookbuilding period, dominated by spread widening cross the whole Philippines curve.

Pricing came in at 99.669% on a coupon of 7.25% to yield 7.375%. This equates to 455bp over Treasuries, or 409bp over Libor....

To continue reading, please login or register for free

Click for more on: union | bank | philippines | completes | debut | bond

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...