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BPI readies sale of BPI RISE Bonds next week

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Investors eyeing to purchase the Bank of the Philippine Islands (BPI) Reinforcing Inclusive Support for MSMEs Bonds (BPI RISE Bonds) will be issued at par value and will be available for purchase next week.

The RISE Bonds will bear an interest rate of 5.75 percent per annum, paid quarterly. Applications to purchase the BPI RISE Bonds will have a minimum investment amount of P1 million and additional increments of P100,000.

The offer period will begin on January 9, 2023 and will end earlier than previously announced. The final day of the offer will now be January 13, 2023—one week earlier than the original date of January 20, 2023. The planned issue and listing date of January 30, 2023 is unchanged.

“BPI is keen to use the offer of BPI RISE Bonds as an opportunity to support MSMEs, which the Bank sees as significant contributors to the Philippine economy. In fact, the Philippine Securities and Exchange Commission has confirmed that the BPI RISE Bonds qualify as Asean Social Bonds,” BPI said.

“Bonds carrying this classification have been independently verified to have systems in place to ensure that proceeds raised will be directed toward projects that benefit society. This gives bondholders confidence that their investments will be used to make a positive social impact,” it added.

The bonds, BPI said, are securities that are exempt from registration under Section 9.1 (E) of the Securities Regulations Code. It will not also be registered with the Securities and Exchange Commission.

BPI Capital Corporation (BPI Capital) and ING Bank N.V., Manila Branch (ING) are the Joint Lead Arrangers of the offer; BPI Capital is the Sole Selling Agent.

BPI and the Joint Lead Arrangers reserve the right to update the offer terms and the periods and dates prescribed above, as deemed appropriate and with due notice.

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