C08247-2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Nov 20, 2023
2. SEC Identification Number
36073
3. BIR Tax Identification No.
000-508-271-000
4. Exact name of issuer as specified in its charter
UNION BANK OF THE PHILIPPINES
5. Province, country or other jurisdiction of incorporation
METRO MANILA
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
UNIONBANK PLAZA, MERALCO AVENUE CORNER ONYX STREET, ORTIGAS CENTER, PASIG CITY Postal Code 1605
8. Issuer's telephone number, including area code
(02) 8841-8600
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON 2,353,746,590
11. Indicate the item numbers reported herein
ITEM 9 - OTHER EVENTS

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Union Bank of the PhilippinesUBP

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

UnionBank announces dual-tranche 1.5Y and 3Y Bond Offering with Bond Exchange Option for holders of its Series C Bonds
Background/Description of the Disclosure

Union Bank of the Philippines (“UnionBank”) announced today the start of the public offer of its 1.5Y Senior Fixed Rate Series F Bonds due 2025 and 3Y Senior Fixed Rate Series G Bonds due 2026 (collectively, the “New Bonds”). The New Bonds will be issued under UnionBank’s ¿50 billion Bond Program and each tranche will be offered with a minimum aggregate principal amount of ¿1 billion, with an oversubscription option. The 1.5Y Series F Bonds and 3Y Series G Bonds have interest rates of 6.5625% per annum and 6.6800% per annum, respectively. The public offer period for the New Bonds will start from November 20, 2023 and end on November 29, 2023.*

Concurrent with the offering of the New Bonds, UnionBank has extended to the holders of its ¿8.115 billion 2.750% Fixed Rate Series C Bonds due December 9, 2023 (the “Exchangeable Bonds”) the option to sell to UnionBank such Exchangeable Bonds in exchange for subscription to any of the New Bonds (the “Bond Exchange”). The Bond Exchange period will start on November 20, 2023 and end on November 24, 2023.* Any interest accruing to the Exchangeable Bonds from the date of the last interest payment up to and including the issue date of the New Bonds will be paid on the Bond Exchange settlement date, on December 4, 2023*.

The New Bonds are intended to be issued, settled and listed on PDEX on December 5, 2023.

ING Bank N.V., Manila Branch (“ING”) and Standard Chartered Bank (“SCB”) are the Joint Lead Arrangers and Bookrunners on the transaction. They are also the Selling Agents for the offering of the New Bonds together with UnionBank.

*ING, SCB, and UnionBank reserve the right to adjust the public offer period of the New Bonds, the Bond Exchange period, and the Bond Exchange settlement date as needed.


THE BONDS BEING OFFERED OR SOLD HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”) UNDER THE SECURITIES REGULATION CODE OF THE PHILIPPINES AND ITS IMPLEMENTING REGULATIONS (“SRC”). ANY FUTURE OFFER OR SALE OF THE BONDS IS SUBJECT TO THE REGISTRATION REQUIREMENTS UNDER THE SRC UNLESS SUCH OFFER OR SALE IS MADE UNDER CIRCUMSTANCES IN WHICH THE BONDS QUALIFY AS EXEMPT SECURITIES OR SUCH OFFER OR SALE QUALIFIES AS AN EXEMPT TRANSACTION UNDER THE SRC.

Please refer to the attached Press Release dated November 20, 2023 entitled “UnionBank announces dual-tranche 1.5Y and 3Y Bond Offering with Bond Exchange Option for holders of its Series C Bonds”.
Other Relevant Information

N/A
Filed on behalf by:
Name Joselito Banaag
Designation Senior Vice President, General Counsel and Corporate Secretary