The Philippine National Bank (PNB) has launched the public offering for its latest peso-denominated sustainability bonds, a dual-tranche issuance designed to support environmentally and socially responsible lending initiatives.
According to a post by Philstar Global, in a disclosure to the Philippine Stock Exchange, the bank said the issuance consists of three-year Series A ASEAN sustainability bonds due 2028 and five-year Series B ASEAN sustainability bonds due 2030.
Both sustainability bonds will be issued under the bank’s P50-billion bond and commercial paper program. The offering carries a minimum aggregate issuance size of P3 billion, with an option to upsize depending on investor demand.
PNB said proceeds from the offer would be earmarked to finance or refinance eligible assets aligned with its sustainable financing framework and compliant with ASEAN sustainability bond standards.
The Series A bonds are priced at an interest rate of 5.4877 percent per annum, while the Series B bonds will pay 5.7764 percent annually. Minimum investment is set at P100,000, with increments of P50,000 thereafter.
