BPI Lists Over PHP3 Billion of LTNCTDs on PDExPosted on: October 25, 2019
25 October 2019, Makati Philippines — The Bank of the Philippine Islands (BPI) listed over PHP 3 Billion worth of Long-Term Negotiable Certificates of Time Deposit (LTNCTD) Due 2025 on the Philippine Dealing & Exchange Corp. (PDEx). With quarterly coupons priced at 4%, the issue’s proceeds will support the Bank’s business expansion plans, and diversify its funding sources.
“We are pleased to welcome the Bank of the Philippine Islands back for the listing of this over PHP 3 Billion LTNCTD on the organized market. This is, auspiciously, listing number thirty (30) for the year, breaking last year’s record of twenty-nine listings in one year,” said PDEx President and COO Antonino Nakpil.
About this issue, BPI President and CEO Cezar P. Consing remarked that “this capital raise will help finance the growth of a loan book that, with every passing quarter, becomes a bit more green, a bit more sustainable.”
The sole arranger and participating selling agent of these BPI LTNCTDs was the Hongkong and Shanghai Banking Corp. Limited and BPI Capital Corporation acted as the sole selling agent.