Bank of the Philippine Islands (BPI), the financial unit of conglomerate Ayala Corp., said Wednesday it shortened its bond offering period on strong take-up from institutional, high-net worth and retail clients.
BPI said in a disclosure to the stock exchange the 15-day offer period, originally set to run from July 19 to Aug. 2, 2024, would now close on Aug. 1, 2024. The bank expressed its gratitude to the investing public’s strong support for the offer.
The bank earlier announced plans to offer P5 billion worth of BPI Sustainable, Environmental and Equitable Development (BPI SEED) bonds due 2026. The offer has an option to upside demanding on the demand.
The BPI SEED Bonds will be issued at par value, bearing an interest rate of 6.2 percent per annum paid quarterly.
BPI planned to issue and list the BPI SEED bonds on Aug. 9, 2024 with the Philippine Dealing and Exchange Corp.
