PNB to Float ₱3-B Sustainability Bonds

Philippine National Bank (PNB) is set to offer at least ₱3 billion in peso-denominated, dual-tranche, fixed-rate sustainability bonds with tenors of three and five years, with an option to upsize the issuance.

PNB posted a 23% year-on-year growth. (Photo: Philippine National Bank -PNB)

The offering marks the inaugural series under PNB’s ₱50-billion Bond and Commercial Paper Programme.

PNB recently reported its financial performance for the first nine months of 2025, posting a 23% year-on-year growth.

Proceeds from the bond issuance will support the bank’s expansion plans and will be used to finance or refinance eligible green and social projects under its Sustainability Financing Framework.

The bonds will be issued as sustainability bonds aligned with the ASEAN Sustainability Bond Standards, subject to application with and confirmation from the Securities and Exchange Commission (SEC) regarding the use of the ASEAN label.

“This bond issuance reflects PNB’s commitment to responsible banking and sustainable growth. 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,” said PNB President and CEO Edwin Bautista.

“This offering also underscores our confidence in the market and our readiness to support the evolving needs of our customers and communities.”

The public offer period will run from November 26 to December 2, 2025, subject to market conditions and final management approval.

The bonds are expected to be issued and listed on the Philippine Dealing and Exchange Corp. on December 11, 2025.

PNB Capital and Investment Corporation, ING Bank N.V. Manila Branch, and Standard Chartered Bank will serve as Joint Lead Arrangers and Bookrunners, with all three also acting as Selling Agents.