New bond series from BPI debuts

The Bank of the Philippine Islands, the Ayala Group's financial services arm, is planning to raise P5 billion from a planned offering and issuance Peso-denominated fixed-rate BPI Supporting Inclusion, Nature, and Growth Bonds due 2026 (BPI SINAG Bonds).

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange, the bank said it has the option to upsize the issuance which marks the inaugural tranche under BPI's P200 billion Bond and Commercial Paper Program approved by its Board of Directors on Oct. 16, 2024.

The net proceeds of the offer will be used for the financing or refinancing of eligible projects under BPI's Sustainable Funding Framework consistent with the ASEAN Sustainability Bond Standards.

The BPI SINAG Bonds, which will have a tenor of one and one-half (1.5) years, will carry the "ASEAN Sustainability" label, as affirmed by the Securities and Exchange Commission on March 17, 2025.

Applications to invest in the BPI SINAG Bonds will be received at a minimum principal investment amount of P500,000, and in increments of P100,000 thereafter.