Metrobank closes sustainability bond offer early on strong demand

METROPOLITAN Bank & Trust Co. (Metrobank) on Monday ended the public offer period for its sustainability bonds, a week earlier than scheduled amid robust appetite from the market.

“Metrobank has closed the public offer for its Series F ASEAN Sustainability Peso-denominated bonds on March 23, earlier than the March 30 date previously set, due to strong demand from both institutional and retail investors,” the Ty-led bank said in a disclosure to the stock exchange on Tuesday.

The bank is looking to raise at least P5 billion from the 1.5-year bonds, which have been priced at 5.4727% per annum.

“Proceeds from the bonds will help diversify Metrobank’s funding sources while supporting the bank’s lending operations. In line with Metrobank’s Sustainable Finance Framework, the bank intends to allocate the proceeds to finance or refinance eligible green and social assets, supporting projects that deliver positive environmental and social impact,” it said.

The notes are scheduled to be issued and listed on the Philippine Dealing & Exchange Corp. on April 14.

Metrobank sold the securities at a minimum investment of P500,000 and additional increments of P100,000 thereafter.

The papers will be 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.

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 jumped by P2.55 or 3.99% to close at P66.40 each on Tuesday. — Aaron Michael C. Sy