MANILA -- Bank of the Philippine Islands said Monday it priced the first tranche of its thrift unit's P35 billion bond program at P2 billion.
The bonds will have a tenor of 2 and a half years and at 4.3 percent annual interest paid quarterly. The offer period will run from Monday until Dec. 6, BPI said.
BPI Family Savings Bank has the option to upsize the offer to fund its expansion, according to the statement.
The minimum investment amount was set at P100,000 with P50,000 increments thereafter. The listing is scheduled on Dec. 16.
BPI Capital Corp is the sole selling agent, while HSBC is the sole arranger and participating selling agent, according to the statement.