BPI kicks off $2-B fundraising from global investors
This bank is tapping global lenders to sell their debt papers to foreign investors.
The Bank of the Philippine Islands (BPI) announced that it is pushing through with its plan to raise $2 billion by offering medium term notes, with the facility already up and running as of Thursday, June 21.
In a disclosure, the Ayala-owned bank said the capital-raising initiative will be led by its subsidiary BPI Capital in partnership with several multinational banks to tap a wider market.
“The Programme, which is expected to be listed on the Singapore Exchange Securities Trading Limited, is part of the Bank?s initiatives to maximize flexibility in accessing funding expediently,” BPI said.
BPI tapped Deutsche Bank, HSBC, and J.P. Morgan as Joint Lead Arrangers and dealers. The notes can also be purchased via BofA Merrill Lynch, Citigroup, ING, Mizuho Securities, MUFG, Standard Chartered Bank, UBS and Wells Fargo Securities.