BPI Family closes bond offering early amid strong demand
BPI Family Savings Bank has closed its bond offer ahead of schedule due to exceptional demand from high net worth and retail clients.
In a statement, BPI Family said it exceeded its P2 billion target for its maiden bond issue, prompting it to cut the offer period by a week and a half.
The wholly owned thrift bank and consumer lending arm of the Bank of the Philippine Islands priced its maiden bond offering at 4.3% per annum.
Proceeds from the offering will be used to diversify the bank’s investor base and fund its asset expansion, particularly loan growth, digitalisation initiatives and for general corporate purposes.