Bank of the Philippine Islands Announces BPI SEED Bonds

The Bank of the Philippine Islands (BPI) has priced its 1.5-year Peso-denominated Fixed-Rate Bonds due 2026 called BPI Sustainable, Environmental, and Equitable Development Bonds (BPI SEED Bonds), with a principal amount of P5 Billion, with an option to upsize.

The BPI SEED Bonds will be issued at par value, bearing an interest rate of 6.2000% p.a., paid quarterly. Applications to purchase the BPI SEED Bonds will require a minimum investment amount of P500,000 and additional increments of P100,000. BPI will use the net proceeds of the offer to finance or refinance new or existing Eligible Green and/or Social Projects as defined under, and consistent with, BPI’s Sustainable Funding Framework.

The offer period for the BPI SEED Bonds started today, July 19, 2024 and end on August 2, 2024. The BPI SEED Bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on August 9, 2024.

BPI is committed to creating value not only for its businesses, but also for its stakeholders, the environment, and the communities in which it operates. It strives to have sustainability at the core of its corporate strategies, ultimately balancing its growth aspirations with its environmental and social responsibility.

BPI is keen to use the offer of BPI SEED Bonds as an opportunity to promote projects that contribute to the United Nations Sustainable Development Goals. In fact, the Philippine Securities and Exchange Commission has confirmed that the BPI SEED Bonds qualify as ASEAN Sustainability Bonds on July 18, 2024. Bonds carrying this classification have been independently verified to have systems in place to ensure that proceeds raised will be directed toward projects that benefit society. This gives bondholders confidence that their investments will be used to make a positive environmental and social impact.

BPI Capital Corporation (BPI Capital) and Standard Chartered Bank are the Joint Lead Arrangers and Selling Agents of the offer (the Joint Lead Arrangers and Selling Agents). BPI and the Joint Lead Arrangers and Selling Agents reserve the right to update the offer terms and the periods and dates prescribed above, as deemed appropriate and with due notice.

Interested investors may visit any BPI branch or contact BPI Capital at ([email protected]).

The 172-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are licensed as a universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services: deposit taking and cash management, payments, lending and leasing, wealth management, bancassurance, investment banking, securities brokerage, foreign exchange and treasury. BPI has investment-grade ratings of BBB+ (S&P), Baa2 (Moody’s), BBB (Capital Intelligence), and BBB- (Fitch).