BPI prices its 1.5-year peso-denominated bonds

BPI prices its 1.5-year peso-denominated bonds
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THE Bank of the Philippine Islands (BPI) has priced its 1.5-year Peso Fixed-Rate Bonds due 2025, with an aggregate principal amount of P5 billion with an option to upsize.

The bonds, the second tranche under the bank’s P100 Billion Bond Program, will be issued at par value, bearing an interest rate of 6.425 percent per annum, paid quarterly.

Applications to purchase the bonds require a minimum investment amount of P1,000,000 and in additional increments of P100,000.

BPI will use the net proceeds of the offer for general corporate purposes, and the offer will contribute to BPI’s funding source diversification.

The offer period will commence on October 17, 2023, and end on November 3.

The bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on November 13. BPI Capital Corp. and ING Bank N.V., Manila Branch are the Joint Lead Arrangers and Selling Agents of the Offer.

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