In a filing with the stock exchange, UnionBank said the update was completed the day before, noting that the increase was approved by its board of directors in March this year.
With the updated bond program, UnionBank said it may, "from time to time, issue, offer and sell the remaining balance of unissued and non-outstanding unsecured and unsubordinated peso-denominated bonds in such form, amount, tenor, number of tranches, at such interest rate, and under such other terms and conditions as the bank may subsequently determine or approve."
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