BPI raises record P40B via sustainability bonds
MANILA, Philippines — Bank of the Philippine Islands (BPI) on Tuesday said it raised P40 billion via sustainable bonds. This is the Ayala-led bank’s largest peso bond issuance to date.
READ: BPI to raise P5B via ‘green’ bonds
The amount was larger than BPI’s initial target to raise, which was at least P5 billion, from the sale of the debt securities. They are also known as Supporting Inclusion, Nature and Growth (Sinag) bonds.
READ: PH firm to issue first ‘green bonds’ in region
The Sinag bonds are payable in 1.5 years with an interest rate of 5.85 percent per year. Investors will be paid quarterly.
Proceeds from the bond will be exclusively allocated to finance or refinance eligible green and social projects. This is in accordance with BPI’s Sustainable Funding Framework.
