The Bank of the Philippine Islands (BPI) has launched 1.5-year fixed-rate Supporting Inclusion, Nature, and Growth (SINAG) bonds.
The bank is seeking to raise at least ₱5 billion ($90 million) from the bonds, with an option to upsize.
The peso-denominated sustainability bonds offer a 5.85% annual interest rate paid quarterly. The minimum investment is ₱500,000, with increments of ₱100,000 thereafter.
‘Making it work for the planet’
‘Making your money work for you is smart, but making it work for the planet takes things a step further,’ BPI said in a statement. ‘As an investor, you can earn good returns by funding enterprises that have integrated sustainability practices into their businesses. Investing in the BPI SINAG (Supporting Inclusion, Nature, and Growth) bonds is one way you can do this.’
The SINAG bonds form part of BPI’s ₱200-billion bond and commercial paper programme, which was approved in October 2024.
Sustainable Funding Framework
Proceeds will finance or refinance projects under BPI’s Sustainable Funding Framework, aligned with ASEAN Sustainability Bond Standards.
‘The proceeds of the BPI SINAG Bonds will be used to fund projects under the bank’s Sustainable Funding Framework,’ it added. ‘Funding projects that benefit the environment, society, and the economy all at the same time greatly support sustainability efforts. Through the BPI SINAG Bonds, the Bank gives you an opportunity to help build a better Philippines for future generations.’
The offer period runs until 30 May, with listing scheduled for 10 June. BPI Capital Corp and Standard Chartered Bank are acting as joint lead arrangers.
The Philippine bank previously tapped the domestic bond market in August 2024, with the offering of 1.5-year Sustainable, Environmental, and Equitable Development (SEED) bonds raising ₱33.7 billion. Read more here.
