BPI Capital’s product-agnostic nature meant that when the equity capital markets were quiet, the team was able to quickly boost its focus on debt capital markets and snag some important mandates. This was despite some large deals being cancelled due to choppy market conditions.
Still, BPI Capital took pole position among local banks on the DCM bookrunning league table during Euromoney’s awards period, for nine deals and credits of $753.4 million, according to Dealogic.
It worked on numerous high-profile deals. BPI Capital was a lead arranger along with ING Bank on parent Bank of the Philippine Islands’ P36.7 billion ($653 million) sale of fixed rate bonds – the largest from the country in 2023. The deal was a huge success, with strong demand allowing the borrower to boost the bond’s size from the initial target of P5.08 billion.
The investment bank also worked on bonds for the Energy Development Corporation, Aboitiz Equity Ventures, Robinsons Land Corp, Ayala Land and SM Prime Holdings – all among the largest firms in the Philippines.
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