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Manila Bulletin devider Opinion devider Bank of the Philippine Islands' record bond offering

Bank of the Philippine Islands' record bond offering

Published Nov 19, 2023 10:06 pm

SPEAKING OUT 

‘Saludo sa Serbisyo’

The day started auspiciously last Monday at the Philippine Dealing and Exchange Corporation (PDEX) with the listing of  the  Bank of the Philippine Islands (BPI) fixed rate bond valued at ₱36.6608 billion due in 2025. 

PDEX President and CEO Nino Nakpil  was more than elated as he welcomed  the largest bond issuance for the year. With Monday’s listing, BPI's total bond issuance for 2023 has reached ₱56.96 billion which represents approximately one-third of the total listings for the year.

Nakpil thanked BPI and the Ayala Group for their strong support of initiatives aimed at developing the debt capital market and their commitment to the growth and development of the financial sector in the Philippines. 

BPI’s bond offering was seven times oversubscribed  with a demand that exceeded the initial target of ₱5 billion. Nakpil said it was picked up by “5,930 happy bondholders” who were given a chance to participate in this instrument. 

BPI Treasurer and head of Global Markets Dino Gasmen responded:  “The significant volume of investments in our record bond offering is a clear sign of the unwavering trust of investors  in BPI, enabling us to expand our businesses and diversify our funding sources. We remain strongly committed to building our capacity to provide financial services that our fellow Filipinos require in line with BPI’s vision of  building a better Philippines, one family, one community at a time.” 

As customary, BPI President and CEO TG Limcaoco rang the ceremonial bell at 9 a.m. to signal the official PDEX listing of the BPI bond.  Aside from Nakpil and Gasmen, on hand to witness the momentous occasion were BPI CFO and Chief Sustainability Officer Eric Luchangco, issue participants led by BPI Capital President Roland ‘Junie’ Veloso and  ING’s Lenin Dueñas, PDTC President and CEO Tess Ravalo, representatives of the law and accounting firms which helped put the deal together, and this writer who is an Independent Director of BPI.

 

Illuminating Ayala Avenue with the spirit of the holidays

Ayala Land, Inc., and Make it Makati celebrated the commencement of the Christmas season through their cherished annual tradition, uniting the city's communities in joy and wonder. The event saw top ALI executives, led by President and CEO Meean Dy, alongside local government representatives, illuminating Ayala Avenue with the spirit of the holidays on Nov. 7. 

Dy expressed: “We welcome the season with hope, optimism, and gratitude. These beautiful lanterns bring the spirit of the season to life, and like the guiding star of the Three Wise Men, I hope these stars also lead us towards what we individually hold dear.”

In a commitment to sustainability, the Christmas decorations, including giant parols and capiz ornaments, have been repurposed from previous years. This underscores ALI's dedication to sustainability while ushering in this year's festive celebrations. 

Another highly anticipated holiday tradition in Makati City, the “Festival of Lights” at Ayala Triangle Gardens, was launched at 6 p.m. on Nov. 14.

ALI President and CEO Dy  was joined by APMC President Laurent Lamasuta, Ayala Land Estates Group Head Robert Lao (also representing the Makati Central Estate Association), ALI Leasing and Hospitality Group Head Mariana Zobel de Ayala, Makati Congressman Luis Campos, Makati Vice Mayor Monique Lagdameo, Ayala Land Estates SVP Mel Ignacio, and ALI External Affairs Head Dindo Fernando during  the memorable ceremonial lighting of Ayala Avenue on Nov. 7.

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