AUB joins ‘bond-wagon’ with P3-B offer

Rebisco group-led Asia United Bank has debuted in the local bond market with the launch on Wednesday of an offering worth at least P3 billion.

AUB’s inaugural bond offering with a three-year tenor was priced to yield 4.625 percent per annum, the bank disclosed on Wednesday.

This is the first tranche of the P30-billion bond program recently approved by the bank’s board.

The offering started on Wednesday (Oct. 16) and will run until Oct. 30 this year.

The bonds are targeted to be listed on the Philippine Dealing Exchange on Nov. 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.

Apart from AUB itself, other selling agents are China Bank Capital Corp., First Metro Investment Corp. and Amalgamated Investment Bancorporation. —DORIS DUMLAO-ABADILLA