November 13, 2025 | 12:00am
MANILA, Philippines — The Philippine National Bank (PNB) is set to issue at least P3 billion worth of peso-denominated sustainability bonds, marking the inaugural offering under its P50-billion bond and commercial paper program.
In a disclosure to the Philippine Stock Exchange, the bank said the dual-tranche bonds will have tenors of three and five years, with an option to increase the issue size depending on demand.
Proceeds will be used to finance or refinance eligible green and social projects aligned with PNB’s sustainability financing framework.
“This bond issuance reflects PNB’s commitment to responsible banking and sustainable growth,” PNB president and CEO Edwin Bautista said.
“By channelling funds toward eligible green and social projects under our Sustainability Financing Framework, we aim to create long-term value for our stakeholders while contributing to the country’s sustainable development goals,” he said.
Bautista said the offering underscores the bank’s confidence in the market and its readiness to support the needs of its customers and communities.
The bonds will be issued as sustainability bonds under the ASEAN Sustainability Bond standards, subject to approval from the Securities and Exchange Commission on the use of the ASEAN label.
The public offer period is scheduled from Nov. 26 to Dec. 2, while the listing and issuance are expected on Dec. 11 through the Philippine Dealing and Exchange Corp.
PNB recently reported a 23 percent year-on-year profit growth to P18.5 billion from January to September, supported by strong operating income.
The bank said the upcoming issuance aims to sustain its growth momentum and reinforce its position as one of the country’s leading universal banks.
PNB Capital and Investment Corp., the bank’s investment banking arm, was tapped as joint lead arranger and bookrunner alongside ING Bank N.V., Manila Branch as well as Standard Chartered Bank. The three institutions will also serve as selling agents for the offering.
The bank and its partners reserve the right to amend the offer terms and timeline, subject to market conditions and regulatory approvals.
