Philippine National Bank (PNB) announces the successful completion of its dual-tranche ASEAN Sustainability Bond offering, raising an impressive total of PHP15.7 billion. This offering marks the Bank’s significant return to the domestic debt capital market after 2019, underscoring strong investor confidence.
The issuance, made under the Bank’s PHP50 Billion Bond and Commercial Paper Programme, received exceptional market reception, with the orderbook reaching more than 5.2 times oversubscribed compared to the initial target size. This strong demand came from a broad base of institutional and retail investors.
The successful offering consisted of two series of fixed-rate ASEAN Sustainability Bonds:
| Bond Series | Tenor | Total Amount Raised | Interest Rate (per annum) | Maturity Date |
| Series A Bonds | 3-year | PHP10.88 Billion | 5.4877% | Due 2028 |
| Series B Bonds | 5-year | PHP4.82 Billion | 5.7764% | Due 2030 |
| Total Raised | PHP15.7 Billion |
The Bonds were offered with a minimum investment amount of PHP100,000 and increments of PHP50,000 thereafter, making them accessible to a wide range of investors.
The net proceeds from the Bonds will be strategically utilized to finance or refinance eligible projects, in line with PNB’s Sustainable Financing Framework and consistent with the ASEAN Sustainability Bonds Standards. This issuance clearly reflects PNB’s resolute commitment to driving sustainable financing initiatives in tandem with the Bank’s overarching growth strategy.
The bonds were officially listed on the Philippine Dealing & Exchange Corp. (PDEX) on Thursday, December 11, 2025.
PNB appointed PNB Capital and Investment Corporation, ING Bank N.V., Manila Branch and Standard Chartered Bank as the Joint Lead Arrangers and Bookrunners for the transaction. PNB, ING, and SCB also acted as selling agents for the offering.
