ACCRALAW acted as Philippine counsel to the joint lead managers and bookrunners (“JLMs”), Standard Chartered Bank, Citigroup Global Markets Limited and MUFG Securities Asia Limited in connection with the issuance by UnionBank of the Philippines of US$300 million senior unsecured notes (Notes) under its US$2 Billion Medium Term Notes Program. The Notes, rated Baa2 (Stable) by Moody’s, were issued at an aggregate principal amount of US$300 million and carries a fixed coupon rate of 2.125% p.a. payable semi-annually. It was listed on the Singapore Exchange Securities Trading Limited in October 2020.
The team was composed of lawyers from the Firm’s Corporate and Special Projects Department, namely Senior Partner Judy Hao, Senior Associate Shiree Amor P. Roma and Associate Nicole Patricia P. Torres.