ON the eve of the New Year of the Water Tiger, Bank of the Philippine Islands (BPI) let out a veritable roar as it listed its 27 billion peso two-year bond at the Philippine Dealing and Exchange Corporation (PDEX).

A visibly elated PDEX President and CEO Antonino Nakpil described BPI’s return to the exchange as auspicious. “It is a signal or a roar from industry leaders that we are fuelling up, filling up our reservoirs with capital – the water of economic life – and that capital will be flowing again.”

BPI’s listing brought the PDEX year-to-date total to P79.7 billion. The cumulative level of listed corporate debt instruments now stand at 1.36 trillion, issued by 54 companies, and comprised of 190 securities.

“This issue produced 4,682 new bond holders, pushing it to 5 times the original size, a testament to the continued trust and confidence of the investing public in the most seasoned bank over its 171 years of service in the Philippines,’ Nakpil said.

“Very well done,” said BPI Chair Jaime Augusto Zobel de Ayala (JAZA) as he complimented the indefatiguable Rhoda Huang, of BPI Capital, and Mimi Concha of HSBC. BPI Capital and The Hongkong and Shanghai Banking Corp. (HSBC) are the joint lead arrangers of the offer. BPI Capital is the sole selling agent, while HSBC is a participating selling agent for the issue.

This issue is the fourth tranche of BPI’s P100-billion bond program which was approved in November 2019. In August 2020, BPI listed its P21.5 billion BPI CARE Bonds, the first of its kind in the fixed-income market, not only in the country but also in ASEAN. The CARE Bonds financed eligible MSMEs under BPI’s Sustainable Funding Framework.

BPI’s fourth tranche totaled 27 billion pesos, with a tenor of 2 years at a rate of 2.8068 per annum. With overwhelming support from retail and institutional investors, BPI was able to raise more than 5x its initial target of 5 billion pesos – a testimony to BPI’s excellent credit worthiness, as well as public support for the bank’s plans and prospects as the bank helps build a better Philippines.

JAZA said the current bonds are in line with the bank’s financial inclusion thrust and will be used mainly to finance the digitalization programs of BPI. “BPI has tapped the bond markets and has achieved some landmark deals but more than anything, BPI takes great pride that these are not only helping the bank and our communities but also the country at large.”

BPI President and CEO Jose Teodoro “TG” Limcaoco took the occasion to announce that: “Amid the continuing volatility in our markets and the challenges of this pandemic, we at BPI will continue to push our strategic initiatives, that of digitalization, excellent customer service and sustainability. Digitalization will allow us to achieve financial inclusion through more relevant, convenient and secure financial services. Customer service excellence allows us to focus on the customer and what they truly need. Finally, sustainability for BPI is not just a byword but a commitment so that we can continue to do business with our clients in the years ahead.”

Other Ayala and BPI directors (aside from those aforementioned) also came in full force during the virtual listing – Bong Consing, Gigi Montinola, OV Espiritu, Janet Ang, Rene Bañez, Romy Bernardo, Toting Bunye, Cesar Purisima, Eli M. Remolona, Jr., Dolly Yuvienco, and Ramon del Rosario. Ma. Theresa Ravalo, president of Philippine Depository and Trust Corporation (PDTC), also joined key BPI senior officials – Ma. Theresa Marcial, CFO; Dino Gasmen, treasurer; John Sy Syquia, head of corporate banking; Ginbee Go, head of consumer banking; Olga Ang, head of branches; and Sheila Tan, president of BPI Asset Management and Trust Corporation – during the landmark event.

BPI donates 94 computers to public schools in Muntinlupa

One of BPI’s key business priorities for 2022 and beyond is to champion sustainability. The Bank believes that doing well by doing good is key in building a sustainable and better Philippines. Aligned with its sustainability push, BPI, through its social development arm, BPI Foundation and in collaboration with this writer, a former Muntinlupa Mayor and Congressman and current BPI Board Director, committed to donate 94 used but functional computer units to four public schools in Muntinlupa City.

For the first leg, 26 desktops and 2 laptops will be turned over to Poblacion Elementary School on February 15, which has 144 faculty members and more than 5,000 students, with most of them from relocated families. Meanwhile, the remaining computer units will be distributed to Itaas Elementary School, Muntinlupa National High School, and Pamantasan ng Lungsod ng Muntinlupa in the coming weeks. To know more about BPI Foundation, follow its Facebook and Instagram pages and visit www.bpifoundation.org.

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