- Home
- BPI...
BPI selling ‘green’ bonds this month to raise P5B
Ayala-led Bank of the Philippine Islands (BPI) will issue P5 billion worth of bonds this month to fund its sustainability-related projects.
In a stock exchange filing on Thursday, BPI said the peso-denominated fixed-rate Asean Sustainable Bonds represented the third tranche of its P100-billion bond program approved in May 2022.
The bonds, which will mature in one and a half years, will be offered at a minimum amount of P500,000. Investors have the option to add investments in increments of P100,000.
READ: EDC selling fresh P10-B green bonds
The offer period will run from July 18 to Aug. 2, while listing on the Philippine Dealing and Exchange Corp. is expected on Aug. 9, BPI said. The bank did not provide indicative interest rates for the bond sale.
Under the Asean Sustainability Bond Standards, proceeds from the issuance need to be used exclusively to fund or refinance “green” and social projects that offer environmental and social benefits, such as renewable energy plants. It should not be used for projects related to “alcohol, gambling, tobacco and weaponry.”
The Zobel family-led bank in 2022 said its P100-billion bond program would help diversify its funding sources and “support, when possible, the bank’s sustainability strategy.”
The first tranche worth P20.3 billion was issued in January last year. The Ayala Group’s banking arm aimed to use the proceeds to provide financial assistance to micro, small and medium enterprises.
BPI issued the second tranche worth P5 billion last October for “general corporate purposes.”
BPI Capital Corp. and Standard Chartered Bank were tapped as joint lead arrangers and selling agents for the latest offer.
READ:BPI taps COL Financial for funds distribution
BPI’s bottom line in the first quarter surged by 26 percent to P15.3 billion, as its merger with Gokongwei-led Robinsons Bank Corp. helped expand its loan portfolio.
Last month, the country’s fourth largest lender launched a loan program for farmers to help improve financial literacy and provide additional funds for agricultural workers.
BanKo, BPI’s microfinance arm, said its Agri NegosyoKo loan program had lower interest rates—at 2.3 percent a month versus the 6.5-percent benchmark rate of banks—to encourage their clients to borrow money to improve their livelihoods.
BanKo’s 10,000 farmer clients can borrow up to P80,000 per hectare, according to BanKo president Rod Mabiasen Jr.
- https://www.msn.com/en-ph/news/other/bpi-selling-green-bonds-this-month-to-raise-p5b/ar-BB1pq388?ocid=00000000
Related
Rishi Sunak makes his final remarks before Keir Starmer becomes PM
'I have heard your anger. Your disappointment. I take full responsibility for this loss': Rishi Sunak left 10 Downing St in the same way as he initially called for a General Election: damp and looking defeated.
NewsThe people who ditch smartphones for 'dumbphones' for a calmer life
Dumphones have skyrocketed in popularity, as 2.8 million were sold in the US last year. People said they were in constant 'zombie mode' before making the switch, but now feel free,
NewsTrillanes to file more complaints vs Duterte, Go
MANILA, Philippines — Former Senator Antonio Trillanes IV on Sunday said he plans to file more complaints against former President Rodrigo Duterte and Senator Christopher “Bong” Go. “We are preparing other complaints, so they should wait, and it seems like others will also file complaints against them,” Trillanes said in Filipino in an interview over Kapihan sa QC. “Others can now file cases since Dutertes’ reign, along with his sidekick Bong...
NewsNancy Binay files ethics rap vs Alan Cayetano: Wounds ‘have reopened’
MANILA, Philippines — Sen. Nancy Binay formally filed on Monday an ethics complaint against Sen. Alan Peter Cayetano for allegedly resorting to name-calling and behaving disorderly during the chamber’s proceedings. The complaint was filed days after the two senators exchanged barbs during the Senate panel on accounts’ hearing on the supposedly ballooning cost of the New Senate Building (NSB) in Taguig. During the July 3 hearing, panel head...
NewsRishi Sunak quits as Prime Minister after conceding defeat to Keir Starmer
'I take responsibility for the loss'
NewsTraumatized' Alice Guo not keen on attending next Senate hearing —lawyer
Suspended Bamban Mayor Alice Guo is not keen on attending the continuation of the Senate investigation into the raided POGO hub in her town after being "traumatized" during the hearings, according to her legal counsel Stephen David. This, despite the issuance of a subpoena against her and the warnings from Senators Risa Hontiveros and Sherwin Gatchalian that she might be cited in contempt and arrested if she will not appear in the Senate...
NewsMalaysian Foreign Minister visits PH
Malaysian Foreign Minister YB Dato' Seri Utama Haji Mohamad Bin Haji Hasan embarked on an official visit to the Philippines on July 1 upon the invitation of Foreign Affairs Secretary Enrique Manalo. While in the Philippines, Hasan paid a courtesy call on President Ferdinand Marcos Jr. at Malacañang Palace, where they affirmed their commitments to strengthen Malaysia-Philippine relations. They also discussed regional matters. President Ferdinand...
NewsDemocrat lawmakers fears for their races after Biden debate debacle
Congressional Democrats are growing increasingly concerned about their own races in November amid panic over President Joe Biden's rapid public decline.
News