AYALA-LED Bank of the Philippine Islands (BPI) on Thursday said that it would be offering P5 billion worth of fixed-rate Asean sustainable bonds, with an option to upsize, later this month.
AYALA-LED Bank of the Philippine Islands on Thursday said that it would be offering P5 billion worth of fixed-rate Asean sustainable bonds, with an option to upsize, later this month.In a filing, the bank said the offering would comprise the third tranche of a P100-billion bond program approved by its board of directors on May 18, 2022.The 1.5-year sustainable bonds maturing in February 2026 will bear an interest rate of up to 6.31 percent per annum.
BPI said that an application for confirmation of the 'Asean Sustainable' label on the bonds was filed with the Securities and Exchange Commission last June 28 but remained pending as of Thursday.'The bonds referred to herein are securities exempt from registration under Sec. 9.1 of the Securities Regulation Code and will accordingly not be registered with SEC,' BPI said, noting that the bonds are not instruments and are not insured by the Philippine Deposit Insurance Corporation.
Readies P5-B Asean Sustainable Bond Offer
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