Bank of the Philippine Islands Announces Upcoming ASEAN Sustainable Bond Issuance

The Bank of the Philippine Islands (BPI) intends to offer and issue P5 Billion Peso-denominated fixed-rate ASEAN Sustainable Bonds due 2026, with an option to upsize, as the third tranche of its P100 Billion Bond Program approved by its Board of Directors on May 18, 2022. The net proceeds of the Offer will be used for the financing or refinancing of new or existing Eligible Green and/or Social Projects as defined under, and consistent with, BPI’s Sustainable Funding Framework.

The Sustainable Bonds, which will have a tenor of one and one-half (1.5) years, will be offered at a minimum investment amount of P500,000, and in additional increments of P100,000. The Offer period will commence on July 18, 2024 and end on August 2, 2024. The Sustainable Bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on August 9, 2024.

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 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 Bank has submitted an application for confirmation of the “ASEAN Sustainable” label with the SEC on June 28, 2024. Confirmation from the SEC is pending as of the date

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).