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Manila Bulletin devider Business devider Banking & Finance devider BPI lists record ₱50-billion social bond after 10-fold demand

BPI lists record ₱50-billion social bond after 10-fold demand

Published Feb 13, 2026 12:07 pm  |  Updated Feb 13, 2026 01:22 pm
Dino Gasmen, BPI treasurer and head of global markets
Dino Gasmen, BPI treasurer and head of global markets
Ayala-led Bank of the Philippine Islands (BPI) raised ₱50 billion through an offering of social bonds, the lender’s largest-ever peso-denominated issuance as investors swarmed the deal.
The final volume for the BPI SIGLA Bonds—an acronym for Supporting Individuals Grow, Lead, and Achieve—was 10 times the initial base offer of ₱5 billion. The fixed-rate instruments were listed on Friday, Feb. 13, on the Philippine Dealing & Exchange Corp., representing the second tranche of the bank’s ₱200 billion bond and commercial paper program approved in late 2024.
BPI priced the two-year bonds at a yield of 5.4050 percent, with interest to be paid on a quarterly basis. The heavy oversubscription allowed BPI to significantly upsize the transaction, reflecting robust liquidity in the local capital markets and a high appetite for paper carrying environmental, social, and governance credentials.
The notes carry the ASEAN Social Bond label, a designation affirmed by the Securities and Exchange Commission in December 2025. This classification requires the issuer to adhere to regional standards for social impact, ensuring that the capital raised is ring-fenced for specific development goals.
BPI indicated that the net proceeds are earmarked exclusively for financing or refinancing eligible social projects under its sustainable funding framework. These initiatives typically include support for micro, small, and medium enterprises, as well as projects aimed at healthcare, education, and affordable housing.
Dino Gasmen, BPI treasurer and head of global markets, said the issuance marks a milestone in the bank's efforts to promote inclusive growth and empower underserved sectors.
He noted that the capital would be channeled into initiatives designed to generate measurable social impact while strengthening community resilience. The bank has been increasingly integrating ESG principles across its business lines, ranging from its lending books to its investment product suite.
The record-breaking deal cements BPI’s position as a frequent and dominant issuer in the domestic debt market. By tapping the social bond market, the bank is aligning itself with a broader regional trend where institutional investors are prioritizing assets that meet sustainability benchmarks. BPI Capital Corp. and the Manila branch of ING Bank NV served as the joint lead arrangers and selling agents for the offering.

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Bank of the Philippine Islands Dino Gasmen Philippine Dealing & Exchange Corporation
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