Metrobank raises P35 billion from ASEAN Sustainability Bond offering
METROPOLITAN Bank & Trust Co. (Metrobank) has raised P35 billion from the sale of sustainability debt, marking its largest peso issuance to date as it saw strong demand.
It listed the 1.5-year Series F ASEAN Sustainability Bonds on the Philippine Dealing and Exchange Corp. on Tuesday, it said in a disclosure to the stock exchange.
Metrobank said the bonds drew strong demand from both institutional and retail investors, with orders reaching seven times its initial P5-billion target.
This prompted the bank to close the public offer period early on March 23 versus the original March 30 schedule.
“We are encouraged by the strong response to this issuance, which reflects the trust our clients and partners continue to place in Metrobank. It also highlights the growing demand for investments that deliver not only financial returns, but also meaningful and lasting impact,” Metrobank Treasury Group Head John Christopher C. Lu said.
“Proceeds from the issuance will be used to diversify Metrobank’s funding sources and support its lending activities. In line with the bank’s Sustainable Finance Framework, the funds will be allocated to finance or refinance eligible green and social assets, supporting projects that contribute to environmental sustainability and inclusive growth,” the bank said.
The bonds are priced at 5.4727% per annum. Metrobank sold the securities at a minimum investment of P500,000 and additional increments of P100,000 thereafter. They were issued out of the bank’s P200-billion bond and commercial paper program approved in December 2021.
Metrobank tapped First Metro Investment Corp., ING Bank N.V. Manila Branch, and Standard Chartered Bank as joint lead managers and bookrunners for the issuance.
These three institutions and Metrobank also served as selling agents, while ING Bank was also the sustainability coordinator.
“As market conditions continue to evolve, Metrobank underscores the importance of taking a disciplined and forward-looking approach to financial decisions. By enabling investments that support both stability and long-term growth, the bank continues to guide its clients in navigating uncertainty through actions that promote resilience and readiness for opportunities,” it said.
The bank last tapped the domestic bond market in October 2022, raising P23.7 billion from 1.5-year notes at a 5% coupon. The final issue size was more than double the initial P10-billion plan amid strong demand, likewise 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 gained 20 centavos or 0.3% to close at P67.50 each on Tuesday. — Aaron Michael C. Sy
