Metropolitan Bank & Trust Co. has closed its latest sustainability bond offering ahead of schedule, amid robust appetite from the market. The Ty-led bank ended the public offer for its Series F ASEAN Sustainability Peso-denominated bonds on March 23, a full week before the original March 30 deadline, driven by strong interest from both institutional and retail investors.
STRONG DEMAND DRIVES EARLY CLOSE
The bonds, with a 1.5-year tenor and priced at 5.4727% per annum fixed rate, required a minimum investment of P500,000. Proceeds will finance or refinance eligible green and social assets, aligning with Metrobank's Sustainable Finance Framework.
"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," the bank disclosed to the Philippine Stock Exchange, highlighting the "strong demand" that prompted the decision.
OFFER DETAILS
Metrobank is led by the Ty family. The bank is looking to raise at least P5 billion from this bond issuance.
The offering was managed by joint lead managers and bookrunners First Metro Investment Corp., ING Bank N.V. Manila Branch, and Standard Chartered Bank, who also served as selling agents alongside Metrobank. ING Bank also served as sustainability coordinator.
BROADER MARKET CONTEXT
This bond issuance is part of Metrobank's broader P200-billion bond and commercial paper program, which received approval from the bank's board of directors in December 2021. The notes are scheduled to be issued and listed on the Philippine Dealing & Exchange Corp. on April 14.
The bank last tapped the domestic bond market in October 2022, raising P23.7 billion from 1.5-year notes at a 5% coupon. That offering was also closed early, with the final issue size more than double the initial P10-billion plan amid strong demand.
The bank reported a record net income of P49.7 billion in 2025, supported by steady loan growth and strong trading gains.
MARKET MOMENTUM
The early closure underscores sustained investor appetite for short-term fixed-income instruments, particularly those linked to sustainability themes, according to The Philippine Star. Metrobank said proceeds from the bonds will help diversify its funding sources while supporting its lending operations.