Bank of the Philippine Islands (BPI) has returned to the local bond market with the issuance of up to P3 billion in fixed rate bonds.
The two-year bonds carry an interest of 4.2423 percent per annum.
Proceeds from the bond offering will support the bank’s expansion plans and diversify funding sources.
The offer period commenced Jan. 13 and will run until Jan.17.
“We are confident that investors will continue to support BPI’s fund raising initiatives, as backed by the bank’s robust credit metrics,” said BPI treasurer Dino Gasmen.
BPI Capital Corp. and Standard Chartered Bank are the joint lead arrangers of the bond offering