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Published on 11/26/2013 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Philippines' UnionBank plans early redemption of PHP 3.75 billion debt

By Marisa Wong

Madison, Wis., Nov. 26 - Union Bank of the Philippines (UnionBank) received approval from the Bangko Sentral ng Pilipinas to redeem its PHP 3.75 billion of subordinated debt ahead of its call option exercise date, according to a Philippine Stock Exchange notice.

The lower tier 2 notes are currently callable on Oct. 15, 2014.

The bank is based in Pasig City, Philippines.


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