BPI starts offer for P5 billion fixed rate bonds on Jan. 6

ABS-CBN News

Posted at Jan 06 2022 12:44 PM

MANILA - Bank of the Philippine Islands on Thursday said the fourth tranche of its peso fixed rate bonds is now available.

The offer period will run from Jan. 6 to Jan. 21 with the listing date set on Jan. 31.

The fourth tranche is part of its P100 billion bond program approved in 2019, in the aggregate principal amount of up to P5 billion, the bank said in a disclosure to the stock exchange. 

Bonds under the fourth tranche have a 2-year tenor and an interest rate of 2.8 percent annually, paid quarterly, BPI said. 

Minimum investment is set at P1,000,000 with additional increments of P100,000, it said. 

Proceeds of the bond offering will be used for general corporate purposes and refinancing, said BPI treasurer Dino Gasmen.

"BPI will continue to invest in digital banking capabilities to better serve its customers. Digitalization will enable our branches to provide more meaningful interactions to address the increasingly complex financial needs of our clients. We are confident and hopeful that investors will continue to support our fund-raising initiatives,” Gasmen said. 

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