{"id":332033,"date":"2025-03-28T00:38:45","date_gmt":"2025-03-27T16:38:45","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332033"},"modified":"2025-03-28T00:38:47","modified_gmt":"2025-03-27T16:38:47","slug":"trade-the-news-bpi-plans-300m-dollar-bond-offering","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-bpi-plans-300m-dollar-bond-offering\/","title":{"rendered":"Trade the News: BPI plans $300M dollar bond offering"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Bank of the Philippine Islands<\/td><\/tr>
Stock Code<\/strong><\/td>BPI<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 156.43<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

BANK of the Philippine Islands (BPI) is looking to raise at least $300 million from an offering of dollar-denominated bonds.<\/p>\n\n\n\n

The bank has tapped BPI Capital Corp., as sole global coordinator, along with joint bookrunners BofA Securities, Inc., The Hongkong and Shanghai Banking Corp. Ltd., JPMorgan Chase & Co., and UBS AG to arrange a series of fixed income investor meetings starting Wednesday for a potential bond issuance, it said in a disclosure to the stock exchange.<\/p>\n\n\n\n

\u201cA US dollar-denominated benchmark-sized Regulation S offering of five-year fixed rate and\/or floating rate and\/or 10-year fixed rate senior notes may follow, subject to market conditions,\u201d BPI said.<\/p>\n\n\n\n

The bonds will be issued out of BPI\u2019s $3-billion medium-term note program, it said.<\/p>\n\n\n\n

\u201cWith regard to the size, we can only say it will be at least benchmark size (at least $300 million),\u201d BPI Treasurer and Global Markets head Dino R. Gasmen said in a Viber message.<\/p>\n\n\n\n

BPI tapped SyCip Salazar Hernandez & Gatmaitan as its legal adviser as to Philippine law, while the joint bookrunners\u2019 counsel is Romulo Mabanta Buenaventura Sayoc & de los Angeles.<\/p>\n\n\n\n

Meanwhile, Milbank (Hong Kong) LLP is the legal adviser of the joint bookrunners for English law.<\/p>\n\n\n\n

S&P Global Ratings on Wednesday assigned a \u201cBBB+\u201d long-term issue rating to the proposed bond offer.<\/p>\n\n\n\n

\u201cWe equalize the rating on the notes with the issuer credit rating on Bank of the Philippine Islands (BBB+\/Stable\/A-2). This reflects our expectation that these notes will always rank equally with other senior unsecured obligations of the Philippines-based bank. The notes will constitute the bank\u2019s direct, unconditional, unsecured, and unsubordinated obligations,\u201d S&P said in a statement.<\/p>\n\n\n\n

BPI last issued dollar bonds in March 2024, which marked its return to the offshore market after five years. The bank raised $400 million from its offer of senior unsecured five-year notes, higher than the initial $300-million offer as tenders reached $1.3 billion.<\/p>\n\n\n\n

The Regulation S bonds, which were issued out of BPI\u2019s medium-term note program, were listed on the Singapore Exchange Securities Trading Ltd. on March 26, 2024. The notes were priced at 5.25%, with proceeds from the issue set to be used to refinance the bank\u2019s maturing debt and for general corporate purposes.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-332033","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=332033"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332033\/revisions"}],"predecessor-version":[{"id":332035,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332033\/revisions\/332035"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=332033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=332033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=332033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}