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Wednesday, July 17, 2024

Driving Sustainable Growth: BPI Launches P5 Billion ASEAN Bond for Green and Social Projects

Bank of the Philippine Islands (BPI), a prominent financial institution under the Ayala Group, has announced its plan to raise P5 billion through the issuance of ASEAN Sustainable Bonds. This initiative is part of BPI’s broader P100 billion bond program, which aims to fund sustainable projects aligned with environmental and social objectives.

Scheduled to mature in 2026, the ASEAN Sustainable Bonds represent the third tranche of BPI’s ongoing bond program, originally sanctioned in May 2022. The funds raised from this offering will be earmarked specifically for financing or refinancing eligible green and social projects. These projects include both new initiatives and existing ventures that contribute positively to sustainable development goals.

Investors interested in participating in this bond issuance can do so with a minimum investment of P500,000, with increments of P100,000 thereafter. The offer period for subscription is set to commence on July 18 and will conclude on August 2. BPI anticipates that the bonds will be listed on the Philippine Stock Exchange by August 9, providing investors with an avenue to engage in sustainable investment opportunities.

BPI Capital Corporation and Standard Chartered Bank have been appointed as joint lead arrangers and selling agents for this issuance, underscoring the commitment to ensuring the success and widespread distribution of these sustainable bonds within the ASEAN region.

By launching this bond offering, BPI not only aims to raise capital but also reinforces its dedication to fostering sustainability through responsible financial practices. This initiative aligns with global efforts towards achieving environmental and social objectives, reflecting BPI’s proactive role in promoting sustainable development across Southeast Asia. – (bilyonaryo.com)

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