Metropolitan Bank & Trust Co. (Metrobank) has successfully listed its P35 billion Series F ASEAN Sustainability Bonds on the Philippine Dealing & Exchange Corp. (PDEx), marking its largest peso-denominated bond issuance to date and underscoring strong investor appetite for sustainable finance instruments in the Philippines.
The 1.5-year fixed-rate bonds carry a coupon of 5.4727% per annum and are aligned with Metrobank’s Sustainable Finance Framework (SFF), which guides the allocation of proceeds toward green and social lending activities.
Investor demand for the issuance significantly outpaced supply, with total orders reaching around seven times the base offer size of PHP5 billion. The strong reception prompted an early closure of the public offer period on March 23, 2026, ahead of its originally scheduled March 30 deadline.
IMAGE CREDIT: Metrobank
According to Metrobank, proceeds will be used to diversify funding sources while supporting lending activities tied to eligible environmental and social projects. These include financing or refinancing assets that contribute to environmental sustainability and inclusive growth, in line with the Bank’s sustainability commitments.
Metrobank’s Sustainable Finance Framework has been assigned an SQS2 (“Very Good”) Sustainability Quality Score by Moody’s Ratings, reflecting its alignment with recognized sustainability principles and measurable environmental and social objectives.
“We are encouraged by the strong response to this issuance, which reflects the trust our clients and partners continue to place in Metrobank,” said John Lu, Head of the Treasury Group. “It also highlights the growing demand for investments that deliver not only financial returns, but also meaningful and lasting impact.”
Strong demand highlights rising ESG investment momentum
Photo shows (from left): Juan Carlo Mendoza, Metrobank Head of Asset Liability Management; Minda Olonan, Metrobank Head of Investor Relations; Ma. Theresa Ravalo, PDTC President; Happy Lomigo, Metrobank Risk Management Group OIC; John Christopher Lu, Metrobank Head of Treasury Group; Stephanie Marie Zulueta, PDEX President; Dan Camacho, FMIC Investment Banking Head; Jun Palanca, ING Bank Philippines Country Manager; Mike Samson Standard Chartered Bank Philippines CEO.
The issuance was jointly arranged by First Metro Investment Corporation, ING Bank N.V. Manila Branch, and Standard Chartered Bank, which served as Joint Lead Managers and Joint Bookrunners. ING also acted as Sustainability Coordinator, alongside its role as one of the selling agents.
Market observers note that the strong demand reflects continued momentum for ESG-linked debt instruments in the local capital market, as both institutional and retail investors increasingly seek instruments that balance yield with sustainability impact.
Metrobank emphasized that the issuance comes amid evolving market conditions, reinforcing the importance of a disciplined and forward-looking approach to financial strategy.
In a press release, the bank said it remains focused on enabling investments that support both stability and long-term growth for clients.
As one of the Philippines’ largest universal banks, Metrobank continues to expand its sustainable finance portfolio alongside its core banking operations, positioning itself as a key player in supporting the country’s transition toward more inclusive and environmentally responsible economic growth.
