BPI To Float PHP5 Billion Sustainable Bonds

The Bank of the Philippine Islands (BPI) plans to offer and issue PHP5 billion peso-denominated fixed-rate ASEAN Sustainable Bonds due 2026, with an option to upsize.

This issuance marks the third tranche of BPI's PHP100 billion Bond Program. I Photo: Ayala Integrated Report

This issuance marks the third tranche of BPI's PHP100 billion Bond Program, approved by its Board of Directors on May 18, 2022.

The net proceeds from this offering will be allocated towards financing or refinancing new or existing Eligible Green and/or Social Projects, as defined under BPI’s Sustainable Funding Framework.

The Sustainable Bonds will have a tenor of one and a half years and will be available for a minimum investment of PHP500,000, with additional increments of PHP100,000.

The offer period for the bonds will begin on July 18, 2024, and conclude on August 2, 2024. The Sustainable Bonds are set to be issued and listed with the Philippine Dealing and Exchange Corp. on August 9, 2024.

BPI Capital Corporation and Standard Chartered Bank will serve as the Joint Lead Arrangers and Selling Agents for this offering. The Joint Lead Arrangers and Selling Agents retain the right to update the terms and the prescribed periods and dates of the offer as necessary, with appropriate notice.

Interested investors are encouraged to visit any BPI branch or contact BPI Capital at bpicapital@bpi.com.ph for more information.