Listed Bank of the Philippine Islands (BPI) has generated P21.5 billion in fresh funds from its issuance of its pioneering Covid Action Response (CARE) bonds.
In a statement on Friday, the Ayala-led lender said the amount was more than seven times the initial planned issue size of P3 billion. This, it added, led to the offer period for the country’s first coronavirus disease 2019 (Covid-19) pandemic response bonds to close earlier than planned.
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