Bank of the Philippine Islands said Monday it will offer P5 billion worth of fixed-rate BPI Supporting Inclusion, Nature and Growth Bonds (BPI SINAG Bonds) next month.
The planned offering will be issued as the first tranche under BPI’s P200-billion bond and commercial paper program approved by its board of directors in October 2024.
The bonds may be increased depending on demand.
The proceeds from the fund-raising activity will be used to finance or refinance projects under the bank’s Sustainable Funding Framework in line with the ASEAN Sustainability Bond Standards.
The BPI SINAG Bonds will have a term of 1.5 years. Investors can apply with a minimum investment of P500,000, with additional investments in P100,000 increments.
Offer period will run from May 20 to May 30, 2025.
The bonds are expected to be issued and listed on the Philippine Dealing and Exchange Corp. on June 10, 2025.
BPI Capital Corp. and Standard Chartered Bank are the joint lead arrangers and selling agents. They may update the offer terms, dates and conditions as needed with proper notice.
BPI raised $800 million from the issuance of 10- and 5- year Reg S senior unsecured fixed-rate notes overseas last month.
The notes were issued under BPI’s $3-billion medium term note program, and the net proceeds will be used for refinancing and general corporate purposes
