BPI launches P5 billion sustainability bonds

The Bank of the Philippine Islands (BPI) priced and began its offering of 1.5-year fixed-rate sustainability bonds, aiming to raise at least P5 billion.

These peso-denominated SINAG Bonds carry an interest rate of 5.85% per annum, payable quarterly, with a minimum investment amount of P500,000 and increments of P100,000 thereafter.

The public offer period runs from May 20 to May 30, with the bonds scheduled for issuance and listing on June 10 on the Philippine Dealing & Exchange Corp.

Proceeds will finance or refinance projects aligned with BPI's Sustainable Funding Framework, focusing on environmental protection, social development, and financial inclusion.

The SINAG Bonds were confirmed by the Securities and Exchange Commission to qualify as ASEAN Sustainability Bonds, ensuring that funds are allocated to impactful projects.

BPI Capital Corp. and Standard Chartered Bank are handling the issuance as joint lead arrangers and selling agents.