Union Bank of the Philippines is planning to raise 3 billion pesos with an oversubscription option by issuing senior fixed rate bonds.

The bonds were priced with an interest rate of 6% with a tenor of three years, according to a May 10 announcement.

The bank will offer the bonds from May 14 to 24. It will issue the bonds June 3.

As of May 10, US$1 was equivalent to 52.32 Philippine pesos.