BPI starts public offering of two-year social bonds

BANK of the Philippine Islands (BPI) on Monday started its public offer of two-year social bonds, from which it looks to raise at least P5 billion.

The bank has priced the BPI Supporting Individuals Grow, Lead, and Achieve Bonds or BPI SIGLA Bonds at 5.405% per annum, gross of applicable tax, to be paid quarterly, it said in a disclosure to the stock exchange.

The public offer period is scheduled to run until Feb. 4, unless adjusted by BPI.

The papers are expected to be issued and listed on the Philippine Dealing & Exchange Corp. on Feb. 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 for the financing or refinancing of eligible social projects under BPI’s Sustainable Funding Framework consistent with the ASEAN Social Bond Standards,” the bank said.

The BPI SIGLA Bonds mark the second drawdown from the bank’s P200-billion bond and commercial paper program approved in October 2024.

BPI Capital Corp. and ING Bank N.V., Manila Branch are the joint lead arrangers and selling agents for the offer.

BPI last tapped the domestic market in May last year, raising P40 billion from its offering of 1.5-year Supporting Inclusion, Nature, and Growth or SINAG Bonds. This was well above the initial P5-billion plan and marked the bank’s largest peso bond issuance to date.

The issue was priced at an interest rate of 5.85% per annum payable quarterly.

BPI’s attributable net income inched up by 0.6% to P17.526 billion in the third quarter of 2025. This brought its nine-month profit to P50.48 billion, up by 5.21% year on year.

Its shares rose by P1 or 0.86% to end at P117 each on Monday. — Aaron Michael C. Sy