[Amend-1]Union Bank of the Philippines: Stock Rights Offering – Final Terms and Conditions
April 05, 2022 at 03:58 am EDT
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NOTICE
Subject
Union Bank of the Philippines: Stock Rights Offering - Final Terms and Conditions
Company Name
Union Bank of the Philippines
Security Details
Type of Security
Stock Symbol
Par Value
Common Shares
UBP
Php 10.00
Type of Transaction
Stock Rights Offering
Rights Shares
Stock Symbol
No. of Shares
Rights Offer Price
UBP
617,188,705
Php 64.81
Rights Entitlement Ratio
1 Rights Share for every 2.4707 shares owned
Pricing Date (if applicable)
Apr 4, 2022
Ex-Date
Apr 6, 2022
Record Date
Apr 11, 2022
Start of Rights' Offer Period
Apr 25, 2022
End of Rights' Offer Period
May 6, 2022
Payment Terms
Full Payment
Lead Underwriter(s)
Please see below list.
Other Parties to the Rights Offer
Function
Name of the Party
Joint Global Coordinators and Joint Domestic Underwriters
CLSA Exchange Capital, Inc.
Joint Global Coordinators and Joint Domestic Underwriters
ING Bank N.V., Manila Branch
Legal Counsel to the Bank
Romulo Mabanta Buenaventura Sayoc & de los Angeles
Legal Counsel to the Joint Global Coordinators and Joint Domestic Underwriters as to Philippine Law
Picazo Buyco Tan Fider & Santos
Legal Counsel to the Joint Global Coordinators and Joint Domestic Underwriters as to U.S. Law
Milbank LLP
Stock Transfer Agent
Union Bank of the Philippines - Stock Transfer Unit
Receiving Agent
Union Bank of the Philippines - Trust and Investment Services Group
External Auditor
SyCip Gorres Velayo & Co.
Corporate Website Hyperlink to the Prospectus
TBD
Tentative Listing Date
May 16, 2022
Other Relevant Information
The Board of Directors of Union Bank of the Philippines ("UBP" or the "Bank") approved the conduct of a Stock Rights Offering ("SRO") of common shares to be issued from the Bank's unissued authorized capital stock.
The proceeds from the SRO will be primarily used to partially fund the Bank's acquisition of the consumer banking business of Citigroup, Inc. in the Philippines, and any amount of net proceeds remaining will be for general corporate purposes.
Please refer to C08643-2021 dated December 23, 2021 for the relevant disclosure of the Bank.
The Exchange approved the application of the Bank for the listing of up to 800,000,000 common shares ("Right Shares"), with a par value of Php10.00 per share, to cover its SRO to all stockholders as of the proposed record date of April 11, 2022, at an Offer Price of Php 64.55 to Php 73.78 per Rights Share. The Exchange's approval of the listing of the Right Shares is subject to the Bank's compliance with all applicable requirements and post-approval conditions of the Exchange.
Please refer to the attached final terms and conditions of the SRO for other details.
The Exchange will accordingly announce any developments on the Bank's listing application.
For your information and guidance.
Filed on behalf by:
Name
Norberto Moreno Jr.
Designation
Listings Department
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Disclaimer
Union Bank of the Philippines Inc. published this content on 05 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2022 07:57:00 UTC.
Union Bank of the Philippines (the Bank) offers a range of commercial banking products and services, such as loans and deposits, cash management, retail banking, foreign exchange, capital markets, corporate and consumer finance, investment management and trust banking. The Banks's segments include Consumer Banking, which handles individual customers? deposits and provides consumer type loans, such as automobiles and mortgage financing, credit card facilities and funds transfer facilities; Corporate and Commercial Banking segment, which handles loans and other credit facilities and deposit and current accounts for corporate, institutional, small and medium enterprises, and middle market customers, and Treasury and Trust segment, which is responsible for managing the Bank's liquidity and funding requirements, and handling transactions in the financial markets covering foreign exchange, fixed income trading and investments, and derivatives.