By William Gullotti
Buffalo, N.Y., Jan. 30 – Bank of the Philippine Islands (BPI) issued PHP 20.3 billion of Reinforcing Inclusive Support for MSMEs (RISE) bonds with a tenor of 1½ years and a coupon of 5¾%, according to a notice and an announcement on Monday.
The bonds are issued under the bank’s PHP 100 billion bond program, and subscriptions for the offering totaled more than four times the initially planned issue size of PHP 5 billion.
BPI Capital Corp. and ING Bank NV, Manila Branch acted as joint lead arrangers, with BPI Capital as selling agent.
Proceeds will be used to finance or refinance the business requirements of eligible micro, small and medium enterprises (MSMEs), consistent with BPI’s sustainable funding framework.
The bonds are listed and tradable on the Philippine Dealing & Exchange Corp.
The lender is based in Makati City, Philippines.
Issuer: | Bank of the Philippine Islands
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Amount: | PHP 20.3 billion
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Issue: | Reinforcing Inclusive Support for MSMEs (RISE) bonds
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Tenor: | 1½ years
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Arrangers: | BPI Capital Corp. and ING Bank NV, Manila Branch
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Coupon: | 5¾%
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Offer period end date: | Jan. 13
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Issue date: | Jan. 30
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