Got P100K? BPI dangles new long-term notes to investors
Here’s a fresh investment option from the bilyonaryo Ayalas.
The Bank of the Philippine Islands (BPI) has launched the first tranche of Long-Term Negotiable Certificates of Time Deposit (LTNCTDs), where they plan to raise at least P5 billion from individual investors.
The fund-raising initiative will “support the bank’s expansion plans and to diversify funding sources,” BPI said in a disclosure on Friday, Oct. 27.
This is part of a P30-billion LTNCTD approved by the central bank, which BPI can offer in a span of one year.
Interested investors can start with a P100,000 placement plus increments of P50,000. The notes mature in 5.5 years and will earn interest between 3.625% to 3.750%.
BPI is not new with issuing long-term papers, as it has previously offered similar notes a few years ago.
“We are confident that with the attractive yield, relative safety, and flexibility of the LTNCTDs, we will have the same success with our latest offer,” BPI President Cezar Consing said.
The tradeable may be accessed between Oct. 27 to Nov. 16, and will be listed by Nov. 24, 2017.