BPI unveils $2-B note program for expansion

Ayala-led Bank of the Philippine Islands (BPI) has successfully established a $2 billion medium-term note program to finance future expansion programs.

“The program, which is expected to be listed at the Singapore Exchange Securities Trading Limited, is part of the bank’s initiatives to maximize flexibility in accessing funding expediently,” BPI said in a disclosure to the stock exchange.

BPI Capital was appointed sole global coordinator and lead arranger for the program, while Deutsche Bank, HSBC, and J.P. Morgan were appointed joint lead arrangers.

The BPI is intensifying its digitalization efforts to bring innovative services to existing and future clients, and support rapid growth.

About 36% of its clients access the bank via digital banking channels, particularly the website and mobile app. This volume grows to 66% if automated teller machine (ATM) and cash acceptance machines (CAM) channels are included.

BPI aims to double the percentage of clients using its electronic channels in five years. PNA