BPI expands fundraising program, cites demandhome/Business/Corporate News/BPI expands fundraising program, cites demandSTRONG investor demand has prompted the Bank of the Philippines Islands (BPI) to raise its initial bond and commercial paper offer from P15 billion to P25 billion. The bond program comes after the Bangko Sentral ng Pilipinas (BSP) relaxed its rules on bank bond issuances to help develop the local capital market. The disclosure comes a day after Moody’s Investors Service affirmed the lender’s investment grade credit rating of “Baa2” with a stable outlook. The credit rating agency said this also meant there was a “very high probability” that the government would extend support to BPI, if needed. BPI shares rose by P4.40 to P88.90 apiece on Friday, in line with a 1.88-percent rise for the Philippine Stock Exchange index.

Source: Manila Times November 16, 2018 17:37 UTC