Bank of the Philippine Islands (BPI) announced on Tuesday that it successfully raised P40 billion through sustainable bonds, marking its largest peso bond issuance to date. This initiative was led by the Ayala group.
The amount exceeded BPI's initial target of at least P5 billion for the sale of these debt securities, also known as Supporting Inclusion, Nature and Growth (Sinag) bonds.
The Sinag bonds have a 1.5-year maturity period with an annual interest rate of 5.85 percent, paid out quarterly to investors.
The proceeds from these bonds will be specifically used to fund or refinance eligible green and social projects, aligning with BPI's Sustainable Funding Framework.
Source: Inquirer.net
