Bank of the Philippine Islands (BPI) intends to issue dollar bonds to refinance $600 million of debt papers expiring this year.
“I think we’re done on the peso side. We are looking at possibly doing a dollar bond sometime later this year as we have a dollar bond that’s maturing. So, we’ll be just refinancing that,” Bankero, BPI President and Chief Executive Officer Jose Teodoro “TG” K. Limcaoco said in an interview on Monday.
The size of the bond offer has yet to be decided, Limcaoco said.
Meanwhile, BPI Treasurer and Global Markets Head Dino R. Gasmen told reporters during the bank’s listing event for the issuance of its RISE bonds on Monday that the bank is looking at all options, and that the offering could be done via club loan or bond issuance.
“We’re still deciding whether we will go with a fixed or a floater, or a mix of the two. We’re also deciding what the tenor will be. Nothing has been decided yet, but we are sure that we are going to refinance maybe a portion of it, maybe the whole thing,” Gasmen added.
On Monday, the BPI listed its latest issuance of BPI Reinforcing Inclusive Support for Micro, Small, and Medium enterprises or RISE Bonds due in 2024.
The bank was able to raise P20.3 billion, more than four times the original P5-billion issue size.
