BPI to issue P5 billion ASEAN Sustainable Bonds

MANILA - Bank of the Philippine Islands (BPI) said it will issue P5 billion worth of Peso-denominated fixed-rate ASEAN Sustainable Bonds, due in 2026. 

The Ayala-led bak said the issuance, with an option to increase the size, represents the third tranche of BPI's P100 billion Bond Program approved in May 2022.

BPI said the net proceeds from this offering will be allocated towards financing or refinancing new or existing Eligible Green and/or Social Projects, in line with BPI’s Sustainable Funding Framework.

The Sustainable Bonds, set to mature in 1.5 years, will be available for investment starting at P500,000, with additional increments of P100,000. 

The offer period will run from July 18, 2024, to August 2, 2024. The bonds are scheduled to be issued and listed on the Philippine Dealing and Exchange Corp. on August 9, 2024.

BPI Capital Corporation and Standard Chartered Bank have been appointed as Joint Lead Arrangers and Selling Agents for this offering. The terms and conditions of the offer, including the specified periods and dates, may be updated by the Joint Lead Arrangers and Selling Agents as necessary, with due notice.