THE Bank of the Philippine Islands (BPI) decided to shorten the offer period for its 1.5-year Peso Fixed-Rate Bonds due in 2025 on the back of strong demand. In a disclosure to the Philippine Stock Exchange (PSE) last Tuesday, BPI said the offer will now end on October 25, 2023 nine days earlier than the original
BPI prices its 1.5-year peso-denominated bonds. THE Bank of the Philippine Islands (BPI) has priced its 1.5-year Peso Fixed-Rate Bonds due 2025, with an aggregate principal amount of P5 billion with an option to upsize. The bonds, the second tranche under the bank’s P100 Billion Bond Program, will be issued at par value, bearing an interest rate of 6.425 percent per annum, paid quarterly. Applications to purchase the bonds require a minimum investment amount of P1,000,000 and in additional increments of P100,000. BPI will use the net proceeds of the offer for general corporate purposes, and the offer will contribute to BPI’s funding source diversification. The offer period will commence on October 17, 2023, and end on November 3. The bonds are expected to be issued and listed with the Philippine Dealing and Exchange Corp. on November 13. BPI Capital Corp. and ING Bank N.V., Manila Branch are the Joint Lead Arrangers and Selling Agents of the Offer.
THE Bank of the Philippine Islands (BPI) aims to raise an additional P5 billion from its 1.5-year peso-denominated bonds. In a disclosure at the Philippine Stock Exchange (PSE), BPI said this is the second tranche of its P100 billion Bond Program. The bonds will be issued at par value, bearing an interest rate of 6.425
Victims point to 'collusion'; bankers say Selva Nadar’s firm may have exploited gaps in the system and concessions granted to 'privileged clients' with 'high incomes and trusted employers'
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