BPI closes bond offering early


The Bank of the Philippine Islands (BPI) has shortened the offer period for its fourth tranche bonds worth P5 billion under its existing P100-billion bond program.

In a disclosure to the Philippine Stock Exchange, the bank said this is due to overwhelming demand from investors, which includes institutional investors as well as high-net-worth and retail clients.

The offer will end on Jan. 14, 2022 instead of Jan. 21, 2022. BPI priced its latest issuance on Jan. 5, 2022, at 2.8068 percent per annum, in the aggregate principal amount of up to P5 billion.

The offering comes with an option to upsize and proceeds will be used by the bank for general corporate purposes including refinancing.

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.