BPI in P3B bond sale

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    Bank of the Philippine Islands (BPI) said it is selling through the public P3 billion in bonds to fund its expansion.

    The bonds will have a tenor of two years and an interest rate of 4.2423 percent paid quarterly. The bonds are sold at an initial tranche of P1 million and another P100,000 for those who want to top-up.

    “The offer period will be from January 13 to 17, 2020, and the issue and listing date will be on January 24, 2020,” BPI said.

    The bank added it “reserves the right to adjust the timing of any of these dates as it considers appropriate.”

    “We are confident that investors will continue to support BPI’s fund raising initiatives, as backed by the Bank’s robust credit metrics,” said Dino Gasmen, BPI treasurer.

    BPI Capital Corp. and Standard Chartered Bank, Philippine branch are the joint lead arrangers of the bonds. BPI Capital is the sole selling agent, while Standard Chartered’s Philippine branch is the participating selling agent.