The Bank of the Philippine Islands (BPI) has listed ₱50 billion worth of “BPI Supporting Individuals Grow, Lead, and Achieve” (SIGLA) bonds on the Philippine Dealing & Exchange Corp. (PDEx), marking the bank’s largest peso bond issuance to date.
The issuance represents the second tranche of BPI’s ₱200-billion bond and commercial paper program approved in October 2024. Originally set at a base size of ₱5 billion, the offer was upsized tenfold due to strong investor demand.
The two-year bonds carry a fixed interest rate of 5.4050 percent per annum, payable quarterly. They have been labeled as ASEAN social bonds, with the designation affirmed by the Securities and Exchange Commission in December 2025. The bonds are exempt from registration under the Securities Regulation Code and are not insured by the Philippine Deposit Insurance Corporation.
Proceeds from the offer will be used exclusively to finance or refinance eligible social projects under BPI’s Sustainable Funding Framework, in line with ASEAN social bond standards. The bank said the issuance strengthens its environmental, social, and governance (ESG) strategy by directing capital toward projects that support inclusive growth and underserved communities.
BPI treasurer and head of Global Markets Dino Gasmen described the listing as a milestone in the bank’s sustainability journey and reaffirmed its commitment to developing financial instruments that support the country’s long-term development goals.
The offer was arranged by BPI Capital Corporation and ING Bank N.V., Manila Branch as joint lead arrangers and selling agents.
Founded 174 years ago, BPI is the oldest bank in the Philippines and Southeast Asia. It operates as a universal bank under the supervision of the Bangko Sentral ng Pilipinas, offering a full range of banking and financial services.
