Metrobank launches P5-B bond offer to boost funding

Insider Spotlight

• Metrobank has opened its Series F ASEAN Sustainability Peso Bonds offer to raise at least P5 billion, with room for oversubscription.
• The bonds carry a fixed rate of 5.4727 percent per annum and a tenor of 1.5 years.
• The offer runs from March 17 to March 30, 2026, with listing on PDEx targeted for April 14, 2026.
• Proceeds will support lending activities and finance or refinance eligible green and social assets.
  
  

Metropolitan Bank & Trust Co. (Metrobank) has launched the offer of its Series F ASEAN Sustainability Peso-denominated Bonds as it looks to broaden its funding base and channel more capital toward sustainable lending.

The bank said in a statement that  the issuance aims to raise at least P5 billion, with an oversubscription option, under its board-approved program covering up to P200 billion in bonds and commercial papers.

Why it matters

The offer gives Metrobank another avenue to diversify funding beyond traditional deposits while aligning fresh capital raising with sustainability-linked financing goals. 

It also reflects how major Philippine banks are continuing to tap the domestic debt market for shorter-dated funding amid steady investor demand for fixed-income products.

The Series F bonds carry a fixed interest rate of 5.4727 percent per annum and a tenor of one and a half years.

The offer period runs from March 17 to March 30, 2026. The bonds are expected to be issued and listed on the Philippine Dealing & Exchange Corp. on April 14, 2026.

Fabian Dee

President, Metropolitan Bank & Trust Co.

The details

Metrobank said proceeds from the bond sale will help support its lending operations. In line with its Sustainable Finance Framework, the bank intends to allocate the proceeds to finance or refinance eligible green and social assets tied to positive environmental and social outcomes.

The minimum investment is set at P500,000, with additional placements accepted in increments of P100,000.

First Metro Investment Corp., ING Bank N.V. Manila Branch, and Standard Chartered Bank are serving as joint lead managers and joint bookrunners. Metrobank, together with the three institutions, will also act as selling agents, while ING will serve as sustainability coordinator.

By the numbers

Metrobank described itself as the country’s second-largest universal bank, with more than 960 domestic branches, over 2,200 ATMs, and 28 foreign branches, subsidiaries, and representative offices.

As of end-2025, the bank reported a total capital adequacy ratio of 16.8 percent and a common equity tier 1 ratio of 16.1 percent. Consolidated assets stood at P3.88 trillion.

The bonds are exempt from registration under Section 9.1(E) of the Securities Regulation Code and will not be registered with the Securities and Exchange Commission. —Vanessa Hidalgo | Ed: Corrie S. Narisma