The country's largest thrift bank BPI Family Savings Bank (BSFB) has debuted into the local retail bond market, offering an interest rate of 4.3 percent per annum for a 2.5-year tenor. BSFB, a unit of Ayala-led Bank of the Philippine Islands, is raising at least P2 billion from this offering but it is keeping an option to upsize. The maiden issue will be the first tranche of its P35-billion bond program, which was approved by its board of directors last October 31. Proceeds from these BFSB bonds will support its drive to "diversify its investor base, fund its asset expansion, particularly loan growth, digitalization initiatives, and general corporate purposes," parent bank BPI s...
Keep on reading: BPI Family debuts on bond market
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