MANILA -- Bank of the Philippine Islands said Friday it shortened the offer period for its second bond issue of the year, worth P5 billion, due to high demand.

The bonds, priced at 4.05 percent per annum, will be offered until March 6 instead of March 17, the Ayala-led lender told the stock exchange.

"This is due to overwhelming demand from its investor base, which includes institutional investors, and high net-worth and retail clients," BPI said.

The bonds will be listed on the Philippine Dealing and Exchange Corp on March 27, BPI said.