AUB starts first tranche of P30-B bond offering

Publicly listed Asia United Bank Corp. (AUB) has started the offer period for its maiden peso-denominated bond issuance as part of its P30 billion fund raising activity.

The maiden three-year peso denominated bonds with a fixed rate of 4.625 percent per annum of the Rebisco Groupled AUB would be offered until Oct. 30 and the listing date at the Philippine Dealing and Exchange Corp. (PDEx) is on Nov. 7.

AUB president Manuel Gomez said the bonds are considered a solid investment due to the bank’s focused growth strategy, innovative systems, robust financial standing, and sound funding profile driven by an effective management team.

“With the bank’s history of steady growth and robust financial performance, supported by tailored and innovative customer touchpoints, the AUB bonds will definitely bring more value to our investors’ investment portfolio,” Gomez said.

Interested investors may inquire at any AUB branch in more than 200 locations nationwide or through any of the following selling agents: China Bank Capital Corp., First Metro Investment Corp. and Amalgamated Investment Bancorporation.

AUB earlier reported a 63 percent surge in net income to P2.6 billion in the first half amid the 25 percent increase in net interest income to P4.5 billion due to a combination of higher lending rates and volume.

Gomez earlier said the bank is bullish with the growth exhibited for the past six months.

“Our customers’ continued patronage to all our core services has helped boost AUB Group’s total assets, and this is something that we will continue to improve on yearon-year,” he said.