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April 12, 2024

BPI seeks $300 million refinancing

Ayala-led Bank of the Philippine Islands (BPI) is preparing a $300 million refinancing plan before its bonds mature in September.

BPI chief finance officer Eric Luchangco said they are exploring various options to refinance bonds.

“We’re evaluating the market landscape and options carefully,” he said, hinting at a potential return to the bond market, securing loans or even a repeat of last year’s syndicated loan play.

Luchangco noted that while BPI has flexibility to refinance early, there’s a drawback of incurring dual costs simultaneously.