bank philippines

Unionbank (UBP)’s Tier 2 notes

The Unionbank of the Philippines (UBP) will be issuing P5 billion worth of unsecured, subordinated Tier 2 notes with a 7.375% net interest rate per annum.

The offer date is up to Tuesday, October 6, 2009 and the issue date is on October 14, 2009.

The company said proceeds from the notes will be used in the expansion of its consumer loans portfolio.

What is a Tier 2 Note?

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