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July 14, 2024

BPI prepares second tranche of P100B bond program

Bank of the Philippine Islands (BPI), under the Ayala Group, is set to issue P5 billion worth of peso fixed-rate bonds with a 1.5-year tenor due in 2025, as part of the second tranche of its P100-billion bond program.

The proceeds are intended for general corporate purposes and diversifying funding sources.

These bonds, available for subscription from October 17 to November 3, 2023, will be listed on the Philippine Dealing and Exchange Corp. approximately one week after the offer period closes.

It features a minimum investment of P1 million and additional increments of P100,000 and may also include an oversubscription option depending on market conditions.