The fixed-rate notes will carry a 1.5-year tenor and include an oversubscription option, with final issuance subject to market conditions.
The planned transaction was approved by bank president Fabian Dee on March 3 under Metrobank’s P154.5 billion bond and commercial paper program.
That facility forms part of the lender’s broader P200 billion issuance program authorized by its board of directors in December 2021.
Proceeds will be used to diversify funding sources while financing or refinancing eligible assets under the bank’s sustainable finance framework.
First Metro Investment Corp., ING Bank N.V. Manila Branch and Standard Chartered Bank will serve as joint lead managers and bookrunners.
Metrobank carries a Baa2 stable rating from Moody’s and BBB- stable from Fitch.
—Edited by Miguel R. Camus
