The Bank of the Philippine Islands (BPI) intends to shorten its ongoing offer period of its 1.5-year Peso Fixed-Rate Bonds due 2025, with an aggregate principal amount of P5 billion with option to upsize, due to overwhelming demand. The offer period began on Oct. 17, 2023 and will now end on Oct. 25 nine days earlier than the original end date of Nov. 3. The planned issue and listing date of Nov. 13 remains unchanged. Applications to purchase the bonds require a minimum investment amount of P1,000,000 and additional increments of P100,000.
THE Bank of the Philippine Islands (BPI) decided to shorten the offer period for its 1.5-year Peso Fixed-Rate Bonds due in 2025 on the back of strong demand. In a disclosure to the Philippine Stock Exchange (PSE) last Tuesday, BPI said the offer will now end on October 25, 2023 nine days earlier than the original
BPI prices its 1.5-year peso-denominated bonds. THE Bank of the Philippine Islands (BPI) has priced its 1.5-year Peso Fixed-Rate Bonds due 2025, with an aggregate principal amount of P5 billion with an option to upsize. The bonds, the second tranche under the bank’s P100 Billion Bond Program, will be issued at par value, bearing an interest rate of 6.425 percent per annum, paid quarterly. Applications to purchase the bonds require a minimum investment amount of P1,000,000 and in additional increments of P100,000. BPI will use the net proceeds of the offer for general corporate purposes, and the offer will contribute to BPI’s funding source diversification. The offer period will commence on October 17, 2023, and end on November 3. The bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on November 13. BPI Capital Corp. and ING Bank N.V., Manila Branch are the Joint Lead Arrangers and Selling Agents of the Offer.
THE Bank of the Philippine Islands (BPI) will be issuing P5 billion worth of bonds to boost its capital-raising activities. In a statement issued last Tuesday, BPI said it intends to offer and issue the Peso Fixed-Rate Bonds set to mature in 2025. The offer has an option to upsize, as the second tranche of
Bank of the Philippine Islands has upsized the issue size of its Peso Fixed-Rate Bonds due 2024 to P20.3 billion over four times the initial target of P5.0 billion to meet strong investor demand.
In a disclosure to the Philippine Stock Exchange, the bank said the bonds, called BPI Reinforcing Incl