BPI Upsizes Fourth Tranche Bond Offer To P27 Billion

The Bank of the Philippine Islands (BPI) exceeded its initial target size of ₱5 Billion for its latest bond offer by more than 5x, reaching ₱27 billion due to strong demand from investors.

Photo Insert: BPI ATMs

The bonds have been issued as part of BPI’s existing ₱100 Billion Bond Program and are now tradable on the Philippine Dealing & Exchange Corp. (PDEx). As issued, the bonds bear an interest rate of 2.8068% p.a. payable quarterly, and a tenor of two (2) years.

“We thank our investors and clients who supported this bond offer. The issuance will help us deliver the financial services that our fellow Filipinos need during this difficult time,” said BPI Treasurer Dino Gasmen.

BPI and the Joint Lead Arrangers decided to close the offer period on January 14, 2022, which is seven (7) days ahead of the original schedule of January 21. This decision was based on the consolidated order book having reached ₱27 Billion.

BPI Capital Corporation (BPI Capital) and The Hongkong and Shanghai Banking Corporation Limited (HSBC), are the Joint Lead Arrangers of the offer. BPI Capital is Sole Selling Agent, while HSBC is Participating Selling Agent.

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