The Bank of the Philippine Islands (BPI) intends to offer and issue ₱5 billion of Philippine Peso-denominated fixed-rate BPI Sustainable Impact Building Our Legacy Bonds due 2028, known as the BPI SIBOL Bonds. The offer carries an option to upsize and is the third tranche under BPI's ₱200 billion Bond and Commercial Paper Program. The public offer period is scheduled to run from 23 November to 4 December 2026, and the bonds are expected to be issued and listed on the Philippine Dealing & Exchange Corp. on 16 December 2026.
BPI will channel the net proceeds into financing or refinancing eligible green and social projects under its Sustainable Funding Framework, consistent with the ASEAN Sustainability Bond Standards. On 20 October 2026, the Securities and Exchange Commission authorised the bonds to carry the "ASEAN Sustainability Bond" label.
TENOR TIED TO THE 175TH ANNIVERSARY
The bonds have a tenor of one year and nine months, or 1.75 years. BPI said the tenor symbolises its 175 years of service and its commitment to customers, communities and the country's progress.
The offering is timed to celebrate the bank's 175th anniversary. BPI structured the tenor specifically as a tribute to that history of service.
ARRANGERS AND FLEXIBILITY ON TERMS
BPI Capital Corporation and ING Bank N.V., Manila Branch are the Joint Lead Arrangers and Selling Agents for the offer. BPI and the arrangers reserve the right to update the offer terms, periods and dates, as deemed appropriate and with due notice.
THIRD TRANCHE OF THE ₱200 BILLION PROGRAMME
BPI issued the first tranche of the programme, the BPI Supporting Inclusion, Nature and Growth Bonds (BPI SINAG Bonds), on 10 June 2025. The SIBOL offer keeps the option to increase its size based on demand.
ISSUER PROFILE AND RECENT RESULTS
BPI is the oldest bank in the Philippines and describes itself as the first bank in Southeast Asia. It is the country's fourth-largest bank and is regulated by the Bangko Sentral ng Pilipinas.
In the first nine months of 2026, BPI's net income fell 3.2 percent year on year, as higher revenues were offset by rising operating expenses and credit-loss provisions. Total revenues rose 9.8 percent over the period, according to the bank's 21 October disclosure.
Deposits at BPI are insured by the PDIC up to ₱1 million per depositor. The bank describes its corporate governance framework as a source of competitive advantage and says it recognises its disclosure obligations to regulators and stakeholders.