BANK of the Philippine Islands (BPI) raised P33.7 billion from its offering of 1.5-year Sustainable, Environmental, and Equitable Development (SEED) Bonds, well above its P5-billion goal, it said on Friday.
“On behalf of BPI, I am honored to share that our bond offering has been met with remarkable enthusiasm from our investors, resulting in a final issue size of P33.7 billion. I think this is the biggest issue we’ve had, and it’s oversubscribed by more than six times our initial target of P5 billion,” BPI Senior Vice-President, Treasurer and Global Markets Head Dino R. Gasmen said in a speech during the bond listing ceremony held at the Philippine Dealing & Exchange Corp. (PDEx) on Friday.
A third of the issue’s total investors were institutional or non-retail, while the rest came from the high net-worth and retail segment, Mr. Gasmen said.
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