AYALA-LED Bank of the Philippine Islands (BPI) plans to raise fresh funds from the issuance of US dollar bonds this year.
In an interview on Thursday, BPI Chief Finance Officer Maria Theresa Javier said the lender remains opportunistic in terms of tapping the debt capital market to supplement its funding requirements.
That said, Javier announced that the Ayala-led bank is looking to tap the offshore bond market to manage its funding mix.
“What might be for forthcoming is a potential US dollar issue,” she said, adding that this would “most likely” happen “this year.”
Pressed for details, the BPI executive said the size of the planned issuance may be smaller than the $600 million the bank raised last year.
“We’re just looking at some finer points and we’ll definitely be coming up with specific soon,” she added.
In September last year, the bank raised $600 million from the issuance of five-year notes with a coupon of 4.25 percent.
The issuance is part of its $2-billion medium term note program.
BPI earlier reported that total assets stood at P2.13 trillion, up 12.3 percent in the first half of the year.
It also reported that its net income grew by 24.5 percent to P13.74 billion in the first six months of 2019 from P11.03 billion in the same period last year.
BPI shares fell by 30 centavos or 0.33 percent to end at P90 each on Thursday.