METROPOLITAN Bank & Trust Co. (Metrobank) on Tuesday said it had ended the public offer for its Series F Asean Sustainability peso-denominated bonds a week ahead of schedule, citing strong demand from both institutional and retail investors.
In a disclosure, the bank said it closed the public offer on March 23, earlier than the previously set March 30.
The bonds, which have a tenor of one and a half years and a fixed interest rate of 5.4727 percent per annum, will be issued and listed on the Philippine Dealing & Exchange Corp. on April 14.
Proceeds will be used to diversify Metrobank’s funding sources while supporting its lending activities.
In line with its sustainable finance framework, the bank said the funds would be allocated to finance or refinance eligible green and social assets, including projects that generate positive environmental and social impact.
The offering forms part of Metrobank’s bond and commercial paper program of up to P200 billion, which was approved by its board in December 2021.
First Metro Investment Corp., ING Bank N.V.'s Manila Branch and Standard Chartered Bank acted as joint lead managers and bookrunners.
Metrobank, together with the three institutions, also served as selling agents, while ING acted as sustainability coordinator.
The bonds were exempt from registration under Section 9.1(E) of the Securities Regulation Code and have not been registered with the Securities and Exchange Commission.
Metrobank shares on Tuesday rose P2.55, or 3.99 percent, to close at P66.40 each amid a 0.63 percent uptick for the benchmark Philippine Stock Exchange index.
