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Manila Bulletin devider Business devider Banking & Finance devider BPI ends SINAG bonds offering early on strong demand

BPI ends SINAG bonds offering early on strong demand

Published May 23, 2025 09:47 am
Zobel-led Bank of the Philippine Islands has decided to end the offering of the BPI Supporting Inclusion, Nature, and Growth Bonds due 2026 (BPI SINAG Bonds) because of “strong and substantial demand.”
In a disclosure to the Philippine Stock Exchange, the bank said its 1.5-year Peso-denominated fixed-rate SINAG Bonds saw strong demand across institutional, high-net worth, and retail clients.
The bank said it has thus decided to shorten the public offer period which was originally set to run from May 20, 2025 to May 30, 2025.
“Due to the considerable demand already received, BPI will now close the Offer ahead of schedule, at the close of business on May 26, 2025. The Bank expresses its gratitude for the investing public’s strong support of the Offer,” BPI said.
The bonds have an aggregate principal amount of ₱5 billion with an option to upsize and is the first tranche under the bank’s ₱200 billion Bond and Commercial Paper Program.
The BPI SINAG Bonds will be issued at par value, bearing an interest rate of 5.8500 percent per annum, paid quarterly.
The planned issue and listing date of the BPI SINAG Bonds on June 10, 2025 with the Philippine Dealing and Exchange Corp. remains unchanged.
BPI Capital Corporation and Standard Chartered Bank are the joint lead arrangers and selling agents of the Offer (BPI Capital and SCB are collectively referred to as Joint Lead Arrangers).
“BPI and the Joint Lead Arrangers reserve the right to update the listing and issue date, and the periods prescribed above, as deemed appropriate and with due notice,” the bank said.
BPI said it will use the net proceeds of the Offer to finance or refinance eligible projects under BPI’s Sustainable Funding Framework consistent with the ASEAN Sustainability Bond Standards.
On March 17, 2025, the Securities and Exchange Commission confirmed that the BPI SINAG Bonds qualify as ASEAN Sustainability Bonds.
Bonds carrying this classification have been independently verified to have systems in place to ensure that proceeds raised will be directed toward projects with environmental and social benefits.
This gives bondholders confidence that their investments will have clear and measurable sustainable impacts.

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