Metropolitan Bank & Trust Co. (Metrobank), the country’s fourth-largest lender controlled by the Ty Group, has closed the public offer for its Series F ASEAN Sustainability peso-denominated bonds a week ahead of schedule, buoyed by strong demand from both institutional and retail investors.
The early close underscores robust market appetite for fixed-income instruments, particularly those offering relatively attractive yields amid a rising interest rate environment.
The bonds, which is expected to raise at least P5 billion for Metrobank, carry a tenor of 1.5 years and offer a fixed annual interest rate of 5.4727 percent. Issuance and listing on the Philippine Dealing & Exchange Corp. are set for April 14.
Proceeds from the offering will allow Metrobank to diversify its funding sources while supporting its lending activities. In line with its Sustainable Finance Framework, the bank said it intends to allocate the funds to finance or refinance eligible green and social projects, reinforcing its push toward environmentally and socially responsible investments.
The issuance forms part of Metrobank’s broader program to raise up to P200 billion through bonds and commercial papers, as approved by its board in December 2021.
The transaction is being led by First Metro Investment Corporation, ING Bank N.V. Manila Branch, and Standard Chartered Bank as joint lead managers and bookrunners. They also serve as selling agents alongside Metrobank, with ING acting as sustainability coordinator.
