Rebisco group-led Asia United Bank (AUB) has debuted in the local bond market with the launch on Wednesday, Oct. 16, of an offering worth at least P3 billion.
AUB’s inaugural bond offering was priced to yield 4.625 percent per annum for a three-year tenor, or maturity period, the bank disclosed.
This is the first tranche of the P30-billion bond program recently approved by the bank’s board.
The offering started on Wednesday and will run until this coming Oct. 30. The bonds are targeted for listing on the Philippine Dealing Exchange on November 7, 2019.
“With the bank’s history of steady growth and robust financial performance, supported by tailored and innovative customer touch-points, the AUB bonds will definitely bring more value to our investors’ investment portfolio,” AUB president Manuel A. Gomez said.
Aside from AUB itself, other selling agents are China Bank Capital Corp., First Metro Investment Corp., and Amalgamated Investment Bancorporation./TSB