BPI Backs Energy Infrastructure with Major Deal in Subic

The Bank of the Philippine Islands (BPI) has reinforced its role in powering Philippine progress by acting as the sole lender in a landmark energy infrastructure acquisition in Subic, supporting the nation’s largest import terminal.

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In March 2025, BPI successfully completed the deal with I Squared Capital (ISQ), a leading global infrastructure investment firm, to support the acquisition of Philippine Coastal Storage and Pipeline Corporation (PCSPC) from Metro Pacific Investments Corporation (MPIC) and Keppel Infrastructure Trust (KIT). BPI served as the sole lender, while its investment banking arm, BPI Capital, acted as the mandated lead arranger for the transaction. Furthermore, BPI Asset Management and Trust Corp. also served as the Facility Agent and Trustee.

The strategic partnership reflects BPI’s broader commitment to delivering innovative financial solutions that enable corporations to invest in essential infrastructure, driving national progress and economic empowerment.

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PCSPC operates the largest import terminal in the Philippines, with a storage capacity of 6.3 million barrels. This critical infrastructure holds over 20% of the country’s import storage capacity, playing a vital role in maintaining the steady supply of liquid fuel products.

Strategically located with deep-water jetties, the terminal is positioned to serve Metro Manila and North Luzon markets, making it the preferred import hub for large institutional players. Its operational capacity and prime access point further support the country’s growing energy demands.

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With this funding, ISQ plans to expand into new markets and product lines, including bio-ethanol, bio-diesel, and other biofuels, as well as organic feedstock for sustainable aviation fuel, reinforcing its commitment to sustainable energy solutions.

BPI’s participation in this acquisition underscores its dedication to facilitating key investments that enhance the country’s infrastructure and economic growth. By financing transformative projects in energy, logistics, and other sectors, BPI continues to empower businesses that shape a stronger and more resilient Philippines.

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