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.