BPI plans P5-billion sustainable bond offering

The Bank of the Philippine Islands (BPI) plans to raise at least P5 billion through a new bond offering to finance or refinance eligible green and social projects.

In a Monday disclosure, the bank said it would issue fixed-rate BPI Sustainable Impact Building Our Legacy (SIBOL) bonds due in 2028, with an option to increase the offer size. The bonds will have a tenor of one year and nine months and mark the third tranche under BPI’s P200-billion bond and commercial paper program.

“In celebration of its 175th anniversary, BPI builds on its enduring legacy through this BPI SIBOL Bonds offering with a 1.75-year tenor, symbolizing its 175 years of service and unwavering commitment to its customers, communities, and the country’s progress,” BPI said in its disclosure to the local bourse.

The Securities and Exchange Commission authorized the bonds to carry the “ASEAN Sustainability Bond” label on 20 October. The offering will follow BPI’s Sustainable Funding Framework and the ASEAN Sustainability Bond Standards.

The public offer period is scheduled from 23 November to 4 December, with issuance and listing on the Philippine Dealing & Exchange Corp. expected on 16 December.

BPI Capital Corp. and ING Bank N.V., Manila Branch, will serve as joint lead arrangers and selling agents.

In a disclosure dated 5 January 2026, BPI announced plans to issue up to P5 billion in peso-denominated fixed-rate BPI SIGLA Bonds, the second tranche under the same program. Formally called Supporting Individuals Grow, Lead and Achieve Bonds, the offering has a two-year tenor and is due to mature in 2028.

The latest offering comes as BPI prepares for a leadership transition. The bank named Executive Vice President and Consumer Banking Head Maria Cristina “Ginbee” L. Go as successor to President and Chief Executive Officer Jose Teodoro “TG” K. Limcaoco, with the transition scheduled for 26 April 2027, subject to regulatory approval.

BPI reported net income of P48.9 billion in the first nine months of 2026, down 3.2 percent year on year, as higher revenues were offset by rising operating expenses and credit-loss provisions.

Total revenues rose 9.8 percent to P156.3 billion, according to the bank’s 21 October disclosure. BPI attributed its performance to loan growth and higher fee-based revenues, while provisions for credit losses surged 69.2 percent.