Bank of the Philippine Islands, the country’s third largest lender by assets, said Monday it issued a total P20.3 billion of fixed-rate bonds due 2024, four times larger than initially planned.
The bond issue is part of the P100 billion program called BPI Reinforcing Inclusive Support for MSMEs Bonds, or BPI RISE Bonds.
Initially planned as a P5 billion issue, the bond pays an interest rate of 5.75 percent. The bonds are now listed on the Philippine Dealing & Exchange Corp.
“We are grateful to our investors for their continued support and trust in BPI. We are also excited that the investments in the BPI RISE Bonds will help us empower micro, small, and medium enterprises to reach their full potential and succeed in their ventures. The success of the bond offering brings BPI one step closer to realizing our vision of building a better Philippines — one family, one community at a time,” said BPI President and CEO Jose Teodoro K. Limcaoco in a statement.
Sustainalytics, a multi-awarded global ESG research, ratings, and data firm, conducted the pre-issuance asset review. BPI Capital Corp. and ING Bank N.V., Manila Branch, served as joint lead arrangers of the offer. BPI Capital was the sole selling agent.
