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Manila Bulletin devider Business devider BPI starts P5-B bond offer

BPI starts P5-B bond offer

Published Jan 7, 2022 03:29 pm

The Bank of the Philippine Islands (BPI) has started its offering of the fourth tranche of its Peso Fixed-Rate Bonds (Fourth Tranche Bonds) under BPI’s existing P100 billion bond program.

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In a disclosure to the Philippine Stock Exchange, the bank said the latest tranche is worth up to P5 billion, with option to upsize.

The Fourth Tranche Bonds will have a tenor of two years and an interest rate of 2.8068 percent per annum, paid quarterly, with a minimum investment amount at P1 mmillion and additional increments of P100,000.

The offer period will run from Jan. 6 to 21 and the issue and listing date will occur on Jan. 31. BPI and the Joint Lead Arrangers reserve the right to adjust these dates.

BPI Treasurer Dino Gasmen said the proceeds from this bond offering will be used for general corporate purposes, including refinancing.

“BPI will continue to invest in digital banking capabilities to better serve its customers,” he said

Gasmen added that, “Digitalization will enable our branches to provide more meaningful interactions to address the increasingly complex financial needs of our clients.”

“We are confident and hopeful that investors will continue to support our fund-raising initiatives,” he noted.

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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