Bank of the Philippine Islands Shortens Offer Period for BPI SEED Bonds

Following overwhelming demand across institutional, high-net worth and retail clients, the Bank of the Philippine Islands (BPI) has decided to shorten the public offer period for its 1.5-year Peso-denominated fixed-rate BPI Sustainable, Environmental, and Equitable Development Bonds due 2026 (BPI SEED Bonds), with a principal amount of P5 Billion, with an option to upsize (the Offer).

The Offer, which was originally set to run from July 19, 2024 to August 2, 2024, has been closed yesterday, August 1, 2024. The Bank expresses its gratitude to the investing public’s strong support for the Offer.

​The BPI SEED Bonds will be issued at par value, bearing an interest rate of 6.2000% p.a., paid quarterly. The planned issue and listing date of the BPI SEED Bonds on August 9, 2024 with the Philippine Dealing and Exchange Corp. remains unchanged.

BPI Capital Corporation and Standard Chartered Bank are the Joint Lead Arrangers and Selling Agents of the Offer.

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).
 
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