ACCRALAW acted as counsel to the joint lead managers (“JLMs”), The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank in connection with the issuance by UnionBank of the Philippines of Php9 Billion Peso-denominated fixed rate bonds via a dual tranche offering. The 3-year tranche carries a fixed coupon rate of 2.750% while the 5.25-year tranche carries an interest rate of 3.375%. This is the third bond issuance by UnionBank under its ₱39 Billion Bonds Program and the first dual-tranche offering issued under the BSP Circular No. 1010 on bank-issued bonds. The bonds were listed with the Philippine Dealing & Exchange Corp. (“PDEx”) on 9 December 2020.

The Firm’s lawyers from the Corporate and Special Projects Department, namely Senior Partner Judy Hao, Senior Associate Shiree Amor P. Roma ,and Associate Nicole Patricia P. Torres worked on project.