BPI offers 2-year debt securities at 5.405%
Bank of the Philippine Islands (BPI) has priced its peso-denominated Supporting Individuals Grow, Lead and Achieve or “Sigla” Bonds to yield 5.405 percent a year, as it kicked off the public offer for the fixed-rate notes on Monday.
In a statement, BPI said the initial offering amounted to P5 billion, with an option to upsize depending on demand.
The bonds represent the second tranche under the bank’s P200-billion bond and commercial paper program approved by its board of directors in October 2024.
BPI Sigla Bonds will be issued at par value and will pay interest on a quarterly basis. These have a tenor of two years and are set to mature in 2028.
P500-K minimum
The public offer period started on Jan. 26 and will run until Feb. 4.
Investors may participate with a minimum investment of P500,000, with additional placements allowed in increments of P100,000.
The bonds are expected to be issued and listed on the Philippine Dealing & Exchange Corp. on Feb. 13.
BPI said the Sigla Bonds have been granted the “Asean (Association of Southeast Asian Nations) Social Bond” label by the Securities and Exchange Commission (SEC).
Net proceeds from the offering will be used to finance or refinance eligible social projects under BPI’s sustainable funding framework, in line with the Asean Social Bond Standards.
BPI Capital Corp. and ING Bank serve as joint lead arrangers and selling agents for the offer. BPI and the joint lead arrangers reserve the right to update the terms and timelines of the offer, subject to due notice.
Sigla bonds are securities exempt from registration with the SEC.
