The Ayala Group’s Bank of the Philippine Islands (BPI) plans to offer P5 billion in peso-denominated fixed-rate ASEAN Sustainable Bonds due 2026, with an option to upsize in case demand is strong.
The offer period runs from July 18 to August 2, 2024, with issuance and listing on August 9, 2024, the lender said in a stock exchange filing on Thursday.
This marks the third tranche of BPI’s P100 billion bond program approved on May 18, 2022.
The net proceeds will finance or refinance eligible green and social projects under BPI’s sustainable funding framework.
The bonds require a minimum investment of P500,000, increasing in increments of P100,000.
BPI tapped investment banking arm BPI Capital Corp. and Standard Chartered Bank as joint lead arrangers and selling agents.
