The bank, controlled by taipan Lucio Tan, raised P15.7 billion from a dual-tranche issue that was 5.2 times oversubscribed, indicating solid demand across institutional and retail accounts.
The bonds required a minimum P100,000 investment with P50,000 increments and were listed on Philippine Dealing & Exchange Corp. on Dec. 11, 2025.
Strong orderbook, clear pricing
The offering was split into a 3-year Series A bond priced at 5.4877 percent and a 5-year Series B bond priced at 5.7764 percent.
PNB secured P10.88 billion from Series A and P4.82 billion from Series B, adding depth to its P50-billion bond and commercial paper program.
Funds tied to sustainable use
Proceeds will fund eligible projects under PNB’s Sustainable Financing Framework in line with ASEAN Sustainability Bond Standards.
The lender tapped PNB Capital, ING, and Standard Chartered as joint lead arrangers and bookrunners.
—Edited by Miguel R. Camus
