Business

Record-high deal: BPI raises $800M from offshore bond market

MANILA, Philippines — Zobel family-led Bank of the Philippine Islands (BPI) has raised $800 million from the offshore bond market – its largest issuance in a single transaction. In a stock exchange filing on Friday, BPI said it had raised $500-million from the sale of five-year bonds at a rate of 5 percent per year.

Contributed Photo /BPI MANILA, Philippines — Zobel family-led Bank of the Philippine Islands (BPI) has raised $800 million from the offshore bond market – its largest issuance in a single transaction. In a stock exchange filing on Friday, BPI said it had raised $500-million from the sale of five-year bonds at a rate of 5 percent per year. It also sold $300-million 10-year bonds at 5.

625 percent. Settlement is expected on April 7, according to the Ayala Group’s banking arm. The notes were issued under BPI’s $3-billion medium term notes program.

Proceeds will be used for refinancing and general corporate purposes, it added. READ: BPI returning to overseas debt market Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy .

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