Bank of the Philippine Islands (BPI) has shortened the offer period of itsP5 billion bond offering to March 6 due to high demand from institutional and high-netwoth and retail investors.
The offer period was supposed to end on March 17. The bonds carry an interest rate of 4.05% per annum.
Proceeds from the bond issue will be used for the diversification of funding sources, balance sheet expansion, and general corporate purposes.
BPI Capital Corp. and ING Bank N.V., Manila Branch were the joint lead arrangers of the offer.
