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THE Bank of the Philippine Islands (BPI) will be offering the inaugural tranche of its P200-billion bond and commercial paper program next month.

The initial tranche of the lender’s bonds will be a P5 billion-worth fixed rate offer that will have a tenor of 1.5 years.

The bonds will also carry the “Asean Sustainability” label, affirmed by the Securities and Exchange Commission (SEC) last March.

“The net proceeds of the offer will be used for the financing or refinancing of eligible projects under BPI’s sustainable funding framework consistent with the Asean Sustainability Bond Standards,” read a statement issued by the BPI.

Applications to invest in the BPI’s bonds, which it calls “Sinag,” will be received at a minimum principal investment amount of P500,000, and in increments of P100,000 thereafter.

The Offer will commence on May 20, 2025 and end on May 30, 2025, unless otherwise determined by the country’s third-largest lender in terms of assets. The “Sinag” bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on June 10, 2025.

BPI Capital Corp. and Standard Chartered Bank are the joint lead arrangers and selling agents (Jlasa) for the offer.

The Jlasas reserve the right to update the Offer terms, periods and dates prescribed above, as deemed appropriate and with due notice.

Earlier, BPI reported of having posted a net income of P16.6 billion in the first quarter of the year on the back of higher revenues offsetting increases in operating expenses.

The Zobel de Ayala-led lender disclosed last Monday its net income grew by 9 percent from the P15.3 billion recorded during the same period last year. The bank’s income is also higher by 18.3 percent from the P14.1 billion it booked in the fourth quarter of 2024.

BPI President and CEO Jose Teodoro K. Limcaoco said in a news briefing last Monday that the bank is on track to exceed last year's record net income of P62 billion.

With recession a Damocles sword over the global economy, Limcaoco said he expects the Philippines to be affected. However, he believes that given the strong consumption and with inflation under control, the country would be insulated than most economies. (See: https://businessmirror.com.ph/2025/04/21/higher-revenues-perk-up-bpis-q1-net-income/).