Metrobank plans sustainability bond offer

METROPOLITAN Bank & Trust Co. (Metrobank) wants to raise at least P5 billion from its first issuance of ASEAN Sustainability fixed-rate notes that would mark its return to the domestic debt market after more than three years.

The bonds will have a tenor of 1.5 years and will be drawn from Metrobank’s P200-billion bond and commercial paper program approved by its board on Dec. 15, 2021, it said in a disclosure to the stock exchange on Wednesday.

“Proceeds will be used to diversify the bank’s funding sources while supporting its lending operations and will be allocated by the bank to finance and/or refinance eligible assets as defined in the bank’s Sustainable Finance Framework,” Metrobank said.

The issuance was approved by Metrobank President Fabian S. Dee on Tuesday (March 3). The date of the offering will be subject to market conditions, the bank added.

It has mandated First Metro Investment Corp., ING Bank N.V. Manila Branch and Standard Chartered Bank as the joint lead managers and joint bookrunners for the transactions.

Metrobank last tapped the domestic bond market in October 2022, raising P23.7 billion via 1.5-year fixed rate notes at a 5% coupon rate.

The final issue size was more than double the initial P10-billion offering amid strong demand that also caused the bank to shorten the offer period.

Proceeds from the issuance were used mainly for the bank’s general capital requirements, including the refinancing of some maturing issuances, it earlier said.

Metrobank booked a record-high net income of P49.7 billion in 2025 amid steady loan growth and strong trading gains.

Its shares closed unchanged at P74.80 each on Wednesday. — Aaron Michael C. Sy