UnionBank raised $358 million in syndicated loan facility

Union Bank of the Philippines (“UnionBank”) has successfully tapped the syndicated bank market through a $358 million 3-year syndicated loan facility. Despite prevailing market uncertainty and volatility, UnionBank’s syndicated financing was well-received with an overwhelming response during syndication, attracting 15 lenders. The facility was upsized to $358 million, or almost 2.5 times the original launch size of $150 million. 

The proceeds will be used to refinance its maturing USD loan and existing USD bonds, and fund its general corporate purposes.

“This shows how UnionBank continues to gain the market’s confidence in our strategic priorities. After our ₱11 billion digital bond issuance in June, which was 11 times oversubscribed, we now have successfully executed this $358 million syndicated loan facility, which is almost 2.5 times upsized. This enables us to better manage our financing requirements and continue executing our strategy as the market remains volatile,” said Johnson L. Sia, Treasurer and Head of Global Markets.

The Hongkong and Shanghai Banking Corporation Limited and MUFG Bank, Ltd. were the Mandated Lead Arrangers, Underwriters, and Bookrunners on the transaction.

Union Bank of the Philippines (UnionBank) has always been among the first to embrace technological innovations to empower its customers. It embraces the future of banking and is committed to be the Philippines’ leading digital bank to best serve the growing needs of Filipinos everywhere.

Over the years, UnionBank has garnered a record-breaking number of awards and recognition including “Asia’s Best Bank Transformation” from Euromoney; "Asia-PacificRetailBankof theYear"fromRetailBankerInternational;"Top2MostHelpfulBanksinAsia Pacific during COVID-19" from BankQuality Customer Survey and Ranking (BankQuality.com); three-time "Best Digital Bank Philippines" from Asiamoney and International Finance Magazine; "2020 Digital Banker of the Year in Asia-Pacific" for president and CEO Edwin R. Bautista, three-time "Digital Bank of the Year Philippines" from The Asset Triple A Awards; back-to-back Digital Transformer of the Year Philippines" from IDC's DX Awards Philippines; "Best Retail Bank Philippines 2020" from Global Banking and Finance, The Asian Banker and The Digital Banker; "Best in Asia Pacific Social, Sustainable & Responsible Banking" fromEfma;"DomesticRetailBankoftheYearPhilippines"fromAsianBanking&Finance;back-to-back"BestDigitalBankPhilippines"&"MostInnovativeCash Management Services Bank Philippines" from Global Banking and Finance; "SME Bank of the Year - Philippines" from Asian Banking and Finance; "Model Bank Award for Financial Inclusion 2020" from Celent Model Bank Awards; Top PESONet Volume Contributor" at the BSP Stakeholders Awards Ceremony 2019; "Employer of the Year" awards from Stevie Awards for Great Employers, Asian Banking and Finance, and HR Asia; and "Top Employer Brand of the Year" from Influential Brands' 2019 Asia CEOSummit.

Determined to be an enabler of the Philippines’ bid to be a G20 country by 2050, UnionBank stands firm in its promise to power the future of banking by co- creating innovations for its customers and for a better world.