The Securities and Exchange Commission said the Bank of the Philippine Islands’ planned offering of P5-billion 1.5-year peso fixed-rate Reinforcing Inclusive Support for MSMEs Bonds will qualify as ASEAN social bonds.
BPI is at the final stages of the planned bond offering due 2024.
ASEAN Social Bonds are an emerging class of investments developed by the ASEAN Capital Markets Forum to support the region’s need for sustainable development instruments. Bonds carrying the classification have been independently verified to have systems in place to ensure that proceeds raised will be directed toward projects that benefit society. This gives bondholders confidence that their investments will be used to make a positive social impact.
“With the BPI RISE Bonds, the bank intends to demonstrate its continuing commitment to achieve positive social outcomes and create value not only for its business, but also for other stakeholders towards nation building,” BPI said in a statement.