The Bank of the Philippine Islands said Tuesday it has set the coupon rate of its 1.5-year peso fixed-rate bonds due 2025 at 6.425 percent. The bond has an aggregate principal amount of P5 billion, with option to upsize if warranted by demand.
This latest bond, the second tranche under the BPI’s P100 billion bond program, will be offered at par value.
BPI will sell the bond at a minimum investment amount of P1 million, with increments set at ₱100,000.
The bank affiliate of the Ayala Group will use the net proceeds of the bond sale for general corporate purposes. It will help diversify BPI’s funding source as well.
The bonds will be offered from Tuesday to 3 November. Once issued, the bond will be listed and traded on the Philippine Dealing and Exchange Corp. on 13 November.
BPI Capital Corp. and ING Bank N.V., Manila Branch are the joint lead arrangers and selling agents of the bond offer.
BPI starts Tuesday sale of 6.425%P5B, 1.5-year peso, fixed-rate bond
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