BPI sets P5B fixed-rate bond offer; bond sale starts Oct 17

The Bank of the Philippine Islands intends to offer and issue P5 billion of peso fixed-rate bonds due 2025, with an option to upsize.

BPI said this is the second tranche of its ₱100 billion bond program approved by its board on 18 May 2022. 

The net proceeds of the offer will be used for general corporate purposes, including funding source diversification. 

The Bonds, which will have a tenor of 1.5 years, will be offered at a minimum investment amount of P1 million and additional increments of P100,000. 

The offer period will start October 17 and end on November 3. The bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on 10 November 2023. 

BPI Capital Corp. and ING Bank N.V., Manila Branch are the joint lead arrangers and selling agents of the offer. BPI, together with the joint lead arrangers, reserves the right to update the offer terms and the periods and dates prescribed above, as deemed appropriate and with due notice.