BPI prices P5-B bond issuance

MANILA, Philippines – Bank of the Philippine Islands (BPI) has priced its sustainability-linked bond issuance at 5.85 percent a year, with a tenor of one and a half years.

BPI, the country’s second-largest private bank, plans to raise at least P5 billion from its Supporting Inclusion, Nature and Growth bonds.

READ: BPI to raise P5B via ‘green’ bonds

The offer period will run until May 30, with lenders required to invest a minimum of P500,000 and add in increments of P100,000.

Listing on the Philippine Dealing and Exchange Corp. is scheduled on June 10.

The notes likewise represent the first tranche of BPI’s P200-billion bond and commercial paper program approved in October 2024.

BPI Capital Corp. and Standard Chartered Bank were tapped as the joint lead arrangers and selling agents of the offer.