MANILA  -The Ayala Group's Bank of the Philippine Islands (BPI) sealed a $300-million (P16.4 billion) debt deal with a consortium of 21 lenders as it further strengthens its balance sheet. In a stock exchange filing on Monday, BPI announced the signing of the three-year syndicated loan facility, which was upsized by 50 percent to accommodate strong demand. Overall orders were two times the original amount of $200 million. Proceeds from the loan will be used to partly refinance its existing $600 million bonds due September 2023, as well as for general corporate purposes.

https://business.inquirer.net/413284/bpi-signs-300-m-loan-facility-with-banking-consortium

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