The Bank of the Philippine Islands, the country’s third largest lender by assets, has listed its P40 billion Supporting Inclusion, Nature, and Growth (SINAG) Bonds on the Philippine Dealing & Exchange Corp. (PDEx), its largest peso-denominated bond issuance to date. This 1.5-year fixed-rate bond offers an annual interest rate of 5.85 percent, payable quarterly.
Aligned with the ASEAN Sustainability Bond Standards, the SINAG Bonds underscore BPI’s commitment to sustainable finance.
The Securities and Exchange Commission (SEC) affirmed the ASEAN Sustainability Bond label for the issuance on 17 March, ensuring the proceeds will finance or refinance eligible green and social projects in accordance with BPI’s Sustainable Funding Framework. This framework supports projects that contribute to the United Nations Sustainable Development Goals (SDGs), focusing on areas such as renewable energy, energy efficiency, and social infrastructure.
The bond issuance attracted a diverse investor base, including institutional, high-net-worth, and retail clients, reflecting a growing alignment between capital markets and sustainability. Dino Gasmen, BPI’s Treasurer and Head of Global Markets, expressed that the enthusiastic response to the SINAG Bonds highlights the increasing importance of environmental, social, and governance (ESG) factors in investment decisions. He emphasized that this issuance is not just a financial milestone but an expression of a shared belief that banking can be a catalyst for positive change.
BPI Capital Corp. and Standard Chartered Bank served as joint lead arrangers and selling agents for the SINAG Bonds.
