Bank of the Philippine Islands (BPI) launched a public offer on Monday for P5 billion in sustainability bonds priced at 5.405 percent per annum to fund social projects.
The fixed-rate SIGLA or Supporting Individuals Grow, Lead and Achieve bonds, represent the second tranche of the bank’s P200-billion bond and commercial paper program approved in October 2024. BPI said in a statement that it maintains an option to upsize the offer beyond the initial P5 billion.
The public offer period is scheduled from Jan. 26 to Feb. 4. The bank expects to issue and list the notes on the Philippine Dealing & Exchange Corp. on Feb. 13.
The bonds will be issued at par with a tenor of 2 years and interest will be paid on a quarterly basis. The Securities and Exchange Commission affirmed the notes as ASEAN Social Bonds in December 2025.
Proceeds from the issuance are earmarked to finance or refinance eligible social projects under the BPI Sustainable Funding Framework, which adheres to ASEAN Social Bond Standards.
BPI Capital Corp. and ING Bank N.V. Manila branch are serving as joint lead arrangers and selling agents for the transaction.
The issuance follows a P40-billion sustainability-linked bond sale last year known as SINAG, or Supporting Inclusion, Nature and Growth bonds. Those 1.5-year notes carried a 5.85 percent interest rate and were 8 times oversubscribed against an initial P5 billion base offer.
Funds from the previous SINAG issuance were also allocated toward green and social projects under the bank’s sustainability framework.
 launches a P5 billion sustainability bond offer priced at 5.405 percent to fund social projects under its ASEAN Social Bond label.){kind=link}