The Bank of the Philippine Islands (BPI) has solidified its role as a enabler of national infrastructure with its successful financing of I Squared Capital’s (ISQ) acquisition of the Philippine Coastal Storage and Pipeline Corporation (PCSPC), a landmark transaction with significant corporate and commercial implications.
Finalized in March 2025, the deal saw BPI act as sole lender, while its investment banking arm, BPI Capital, served as the mandated lead arranger. BPI Asset Management and Trust Corp. also assumed the role of facility agent and trustee. The transaction involved the purchase of PCSPC from Metro Pacific Investments Corporation (MPIC) and Keppel Infrastructure Trust (KIT).
PCSPC operates the country’s largest import terminal, accounting for over 20 percent of the country’s total liquid fuel storage capacity at 6.3 million barrels. Strategically located with deep-water jetties capable of serving Metro Manila and North Luzon, the facility is a crucial hub in ensuring energy supply stability and accessibility for institutional energy players.
With BPI’s financial backing, ISQ—a global leader in infrastructure investment—intends to expand PCSPC’s operations to include biofuels such as bio-ethanol and bio-diesel, as well as organic feedstock for sustainable aviation fuel. The move aligns with broader goals of enhancing energy security while transitioning toward sustainable energy solutions.
“This transaction highlights our commitment to supporting projects that are vital to the country’s long-term energy and economic resilience,” said BPI in a statement. The bank continues to position itself as a catalyst for transformative investments across energy, logistics, and other infrastructure sectors.
By enabling such high-impact developments, BPI reinforces its role not just as a financial institution, but as a strategic partner in nation-building and economic empowerment.
