ASIA UNITED Bank Corp. (AUB) plans to tap the bond market as it looks to raise as much as P30 billion.
“Please be advised that in the meeting of the Board of Directors held earlier today, the board of directors has approved a P30 Billion AUB Bond Program,” AUB said in a disclosure on Tuesday.
“The terms, details and timing will be set by the management.”
The purpose for the bond program was not disclosed.
AUB’s bottom line in the first semester went up 63.3% to P2.56 billion from P1.57 billion last year.
Shares in AUB went up 3.01% or P1.65 to P56.45 apiece on Tuesday from Friday’s finish of P54.80 each. — Mark T. Amoguis