Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

UnionBank set to exercise call option on P6.8-billion Tier 2 bonds

UnionBank set to exercise call option on P6.8-billion Tier 2 bonds – BusinessWorld Online


      
      
      
      
      








BW FILE PHOTO

THE BANGKO Sentral ng Pilipinas (BSP) has cleared Union Bank of the Philippines, Inc.’s (UnionBank) plan to buy back P6.8 billion worth of bonds due 2030.

“Please be informed that the Bangko Sentral ng Pilipinas approved Union Bank of the Philippines’ request to exercise its voluntary redemption option on its P6.8-billion unsecured subordinated debt eligible as Tier 2 capital scheduled on May 24, 2025,” it said.

“All noteholders on record shall be notified of the said voluntary redemption option prior to the voluntary redemption date in accordance with the Manual of Regulations for Banks and the terms and conditions of the notes,” the bank added.

UnionBank in February 2020 raised P6.8 billion from the Tier 2 notes, higher than the initial P5-billion target. The issue was listed on the Philippine Dealing and Exchange Corp. that same month.

The Tier 2 notes have an interest rate of 5.25% per annum, payable in arrears quarterly, and were set to mature on May 24, 2030.

They have a tenor of 10 years and three months and are callable in 5.25 years from the issue date or starting May 24.

UnionBank’s attributable net income rose by 31.5% year on year to P11.93 billion in 2024 from P9.07 billion in 2023 on the back of its strong consumer business, improved margins, and higher revenues.

Its shares went up by 25 centavos or 0.76% to close at P33.25 each on Wednesday. — AMCS

CEDTyClea





    You May Also Like

    Stock Markets

    REUTERS By Ashley Erika O. Jose, Reporter THE PHILIPPINES is unlikely to meet its target of six initial public offerings (IPOs) this year as...

    Stock Markets

    Cinnamon and Pili-based incense shows mosquito-repelling properties – BusinessWorld Online                                    ...

    Stock Markets

    REUTERS THE NATIONAL Government’s (NG) outstanding debt hit a fresh high of P16.31 trillion at the end of January as it ramped up borrowings,...

    Stock Markets

    Lack of awareness on government support hinders young innovators – BusinessWorld Online                                    ...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.