The Bank of the Philippine Islands (BPI) on Monday launched its public offering of two-year social bonds, looking to raise at least $5 billion.
The bank has priced the BPI Supporting Individuals Grow, Lead and Achieve Bonds or BPI Sigla Bonds at 5.405% per annum, net of applicable taxes, which will be paid on a quarterly basis, it said in a disclosure to the stock exchange.
The public offering period is scheduled to run until February 4, unless adjusted by BPI.
The papers are expected to be issued and listed on the Philippine Dealing and Exchange Corporation on February 13.
The bonds are being offered at a minimum investment amount of P500,000 and in additional increments of P100,000 thereafter.
“The net proceeds of the offer will be used to finance or refinance eligible social projects under BPI’s Sustainable Funding Framework in line with ASEAN Social Bond standards,” the bank said.
The BPI SIGLA bonds are the second drawdown from the bank's P200-billion bond and commercial paper program approved in October 2024.
BPI Capital Corp. and ING Bank NV, Manila Branch are the joint lead arrangers and selling agents for the offer.
BPI last tapped the domestic market in May last year and raised P40 billion from a 1.5-year Subsidiary Inclusion, Nature and Growth or Sinag bond offering. This was well above the initial P5-billion plan and was the bank's largest peso bond issuance to date.
The issue price was payable quarterly at an interest rate of 5.85% per annum.
BPI's attributable net income increased 0.6% to P17.526 billion in the third quarter of 2025. This brought its nine-month profit to P50.48 billion, up 5.21% year-on-year.
Its shares closed at P117, up P1 or 0.86% on Monday. — Aaron Michael C. Cy