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Manila Bulletin devider Business devider Banking & Finance devider BPI sets yield on ₱5-billion two-year social notes due 2028

BPI sets yield on ₱5-billion two-year social notes due 2028

Published Jan 26, 2026 09:03 am
Bank of the Philippine Islands (BPI), the oldest lender in Southeast Asia, priced its latest offering of social bonds at ₱5 billion as it seeks to funnel more capital into community development and social projects.
The two-year notes, dubbed the BPI SIGLA Bonds, will carry a fixed interest rate of 5.405 percent per annum, according to a filing with the Philippine Stock Exchange on Monday, Jan. 26.
The issuance represents the second tranche of the bank’s ₱200 billion bond and commercial paper program and includes an option to increase the offer size depending on investor demand.
Zobel-led lender said the public offer period begins Jan. 26 and is scheduled to run through Feb. 4. The bonds, which will be issued at par value with interest paid quarterly, are slated for listing on the Philippine Dealing & Exchange Corp. on Feb. 13.
To participate, investors must commit a minimum principal amount of ₱500,000, with additional investments permitted in increments of ₱100,000.
The Securities and Exchange Commission affirmed the “ASEAN Social Bond” label for the issuance on Dec. 18, 2025. This designation ensures that the proceeds will be strictly used to finance or refinance projects that meet the criteria of the bank’s Sustainable Funding Framework, which aligns with regional social bond standards.
This latest foray into the debt capital markets follows a highly successful issuance in May 2025, when BPI raised ₱40 billion from its 1.5-year BPI SINAG Bonds. That sale was oversubscribed by eight times the initial target of ₱5 billion, signaling robust appetite for ESG-themed assets among Filipino investors. Those previous bonds were classified as ASEAN Sustainability Bonds, a label that requires independent verification of environmental and social impact.
“This issuance is not just a financial milestone, but an expression of our shared belief across institutional, high-net-worth, and retail clients that banking can be a catalyst for positive change,” Dino Gasmen, BPI treasurer and head of global markets, said in a statement. He noted that the prior success of the SINAG bonds reflects a growing alignment between local capital markets and sustainability goals.
BPI Capital Corp. and the Manila branch of ING Bank N.V. are serving as the joint lead arrangers and selling agents for the transaction. The bank continues to leverage its ₱200 billion shelf program to diversify its funding sources as interest rate environments evolve and demand for socially responsible investment vehicles grows in the Philippines. (James A. Loyola)

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