BPI Announces Upcoming ASEAN Sustainable* Bond Issuance

MAKATI CITY, Philippines – The Bank of the Philippine Islands (“BPI”) intends to offer and issue Php 5 Billion Peso-denominated fixed-rate ASEAN Sustainable Bonds due 2026 (the “Sustainable Bonds”), with an option to upsize, as the third tranche of its Php 100 Billion Bond Program approved by its Board of Directors on May 18, 2022 (the “Offer”). The net proceeds of the Offer will be used for the financing or refinancing of new or existing Eligible Green and/or Social Projects as defined under, and consistent with, BPI’s Sustainable Funding Framework.

The Sustainable Bonds, which will have a tenor of one and one-half (1.5) years, will be offered at a minimum investment amount of Php 500,000, and in additional increments of Php 100,000. The Offer period will commence on July 18, 2024 and end on August 2, 2024. The Sustainable Bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on August 9, 2024.

BPI Capital Corporation (“BPI Capital”) and Standard Chartered Bank are the Joint Lead Arrangers and Selling Agents (the “Joint Lead Arrangers and Selling Agents”) of the Offer.

The Joint Lead Arrangers and Selling Agents reserve the right to update the Offer terms and the periods and dates prescribed above, as deemed appropriate and with due notice.

Interested investors may visit any BPI branch or contact BPI Capital at bpicapital@bpi.com.ph.

*The Bank has submitted an application for confirmation of the “ASEAN Sustainable” label with the SEC on June 28, 2024. Confirmation from the SEC is pending as of the date.

THE BONDS REFERRED TO HEREIN ARE SECURITIES EXEMPT FROM REGISTRATION UNDER SECTION 9.1(E) OF THE SECURITIES REGULATION CODE AND WILL ACCORDINGLY NOT BE REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION. THE BONDS ARE NOT DEPOSIT INSTRUMENTS AND ARE NOT INSURED BY THE PHILIPPINE DEPOSIT INSURANCE CORPORATION.