BPI to raise P30B via long-term notes offer
This bank wants a fresh stream of moolah for its operations.
The Bank of the Philippine Islands (BPI) has bared plans to float Long-Term Negotiable Certificates of Time Deposit (LTNCTD) worth P30 billion after the Bangko Sentral ng Pilipinas approved their proposal.
The bank owned by the bilyonaryo Ayalas said they will be issuing as much as P30 billion in LTNCTDs in the market, with the first tranche to be offered within the remaining weeks of 2017.
“The LTNCTD will be issued in one or more tranches with the first tranche targeted to be issued within the year, subject to prevailing market conditions. The issuance will support BPI’s expansion plans and diversify the Bank’s funding sources,” the bank told the bourse.