Ayala's BPI raises P33.7B from green bond sale, offer upsized by 570%

Bank of the Philippine Islands (BPI) issued and listed P33.7 billion worth of BPI Sustainable, Environmental, and Equitable Development (SEED) bonds due in 2026, with an interest rate of 6.2 percent per annum, paid quarterly. 

The final issue size of the SEED bonds was increased by 570 percent from the initial P5 billion due to strong demand from institutional, high net worth, and retail investors. 

The proceeds will fund or refinance green and social projects aligned with BPI’s sustainable funding framework. 

“BPI is committed to integrating sustainability in how we do business. The net proceeds from BPI SEED bonds will enable us to foster sustainable development that will contribute to building a better, more resilient Philippines,” BPI treasurer Dino Gasmen said on Friday. 

This issuance is part of BPI’s P100 billion bond program, which was approved by its board in May 2022.  

BPI Capital Corp. and Standard Chartered Bank served as the joint lead arrangers and selling

agents.