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PHILIPPINE National Bank (PNB) on Wednesday began its offering of dual-tranche bonds to raise at least P3 billion to fund sustainable projects. The bank started the public offer period for its three-year peso fixed-rate Series A ASEAN Sustainability Bonds and five-year peso fixed-rate Series B ASEAN Sustainability Bonds that is set to run until Dec. […]PHILIPPINE National Bank (PNB) on Wednesday began its offering of dual-tranche bonds to raise at least P3 billion to fund sustainable projects. The bank started the public offer period for its three-year peso fixed-rate Series A ASEAN Sustainability Bonds and five-year peso fixed-rate Series B ASEAN Sustainability Bonds that is set to run until Dec. […]

PNB starts dual-tenor sustainability bond offering

2025/11/27 00:06

PHILIPPINE National Bank (PNB) on Wednesday began its offering of dual-tranche bonds to raise at least P3 billion to fund sustainable projects.

The bank started the public offer period for its three-year peso fixed-rate Series A ASEAN Sustainability Bonds and five-year peso fixed-rate Series B ASEAN Sustainability Bonds that is set to run until Dec. 2, it said in a disclosure to the stock exchange.

The three-year paper is priced at 5.4877% per annum, while the coupon rate for the five-year bond is 5.7764%.

“PNB will use the net proceeds of the bonds to finance or refinance eligible projects under PNB’s Sustainable Financing Framework consistent with the ASEAN Sustainability Bonds Standards,” it said.

It added that the issue “reflects the bank’s commitment to responsible financing and long-term sustainable growth.”

The notes are being sold at a minimum investment amount of P100,000 each and in multiples of P50,000 thereafter.

This will mark the first issuance under PNB’s P50-billion bond and commercial paper program approved earlier this year.

The bonds are scheduled to be issued, settled, and listed on the Philippine Dealing & Exchange Corp. on Dec. 11.

The bank has tapped its investment banking arm PNB Capital and Investment Corp., ING Bank N.V. Manila Branch, and Standard Chartered Bank as the joint lead arrangers and bookrunners for the transaction.

Meanwhile, PNB, ING Bank, and Standard Chartered are the selling agents for the offering.

PNB saw its net income rise by 25.79% to P6 billion in the third quarter from P4.77 billion, backed by higher revenues. This brought its nine-month profit to P18.51 billion, up by 22.91% from P15.06 billion a year prior.

Its shares closed at P54.15 apiece on Wednesday, down by 80 centavos or 1.46% from the previous day. — A.M.C. Sy

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