Metrobank plans P5-billion  sustainability bond sale

METROPOLITAN BANK & Trust Co. (Metrobank) is looking to raise at least P5 billion through the sale of short-term ASEAN sustainability bonds, as it seeks to diversify funding and support lending activities.

The listed lender is offering 1.5-year Series F ASEAN sustainability bonds at a fixed rate of 5.4727% per annum, it said in a disclosure on Tuesday.

Proceeds will be used to finance or refinance eligible green and social projects under the bank’s Sustainable Finance Framework, including initiatives with environmental and social benefits.

“Proceeds from the bonds will help diversify Metrobank’s funding sources while supporting the bank’s lending operations,” it said.

The notes will have a minimum investment of P500,000, with additional increments of P100,000. The offer period runs until March 30, unless adjusted.

The bonds are scheduled for issuance and listing on the Philippine Dealing & Exchange Corp. on April 14.

The offer will be drawn from the bank’s P200-billion bond and commercial paper programme approved in December 2021.

Metrobank has tapped First Metro Investment Corp., ING Bank N.V. Manila Branch, and Standard Chartered Bank as joint lead managers and bookrunners.

The bank, along with the three institutions, will also serve as selling agents, while ING will act as sustainability coordinator.

The lender last issued domestic bonds in October 2022, raising P23.7 billion from 1.5-year notes at a 5% coupon.

The final size more than doubled the initial P10-billion offer amid strong demand, prompting an early close of the offer period.

Proceeds from that issuance were used mainly for general capital requirements, including refinancing maturing obligations.

Metrobank reported a record net income of P49.7 billion in 2025, supported by steady loan growth and strong trading gains.

Its shares closed at P66.30 apiece on Tuesday, down 1.12% or 75 centavos from the previous session. — Aaron Michael C. Sy