BPI starts offer for up to P5B fixed-rate bonds, with option to upsize

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THE Bank of the Philippine Islands (BPI) announced Thursday, January 6, 2022, the availability of its fourth tranche of Peso Fixed-Rate Bonds (Fourth Tranche Bonds) under BPI’s existing P100 Billion Bond Program, as approved by its Board of Directors on November 20, 2019, in the aggregate principal amount of 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 P1,000,000 and additional increments of P100,000.

The offer period will run from January 6 to 21, 2022, and the issue and listing date will occur on January 31, 2022. 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.

“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 added.

BPI Capital Corp. (BPI Capital) and The Hongkong and Shanghai Banking Corp. Limited (HSBC) are the joint lead arrangers of the offer. BPI Capital is sole selling agent, while HSBC is participating selling agent. (PR)

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