28 October 2022, Makati, Philippines — The local debt market celebrates the 24th listing for the year with Metropolitan Bank & Trust Company’s (MBT) PHP 23.7174 billion Bonds due 2024. The bond carries a coupon rate of 5.0000% per annum, to be paid on a quarterly basis.

The virtual listing ceremony was opened by PDEx President and CEO Antonino A. Nakpil, he said: “I know the Issuer wishes an austere event for this morning and that may just match the current economic zeitgeist. But this event, Metropolitan Bank & Trust Company’s return for an issuance and listing of PHP 23.72 billion worth of 1.5 Year Fixed Rate Bonds is too auspicious to let pass without notation. This is the largest bond ever issued by Metrobank and at the same time it pushes the level of annual bond listings above the now-old record of PHP 387 billion and above the PHP 400 billion milestone. It is fitting that, Metrobank, the bank that pioneered bond issuances post the change in BSP regulations back in 2018 is the one to bring us to PHP 409.84 billion as of today.”

“The primary market is the bright spot for 2022 with the Issuer community really showing that it is back with a vengeance after a lackluster 2021. Corporate and bank issuers have kept the wheels of public financing rolling and domestic investors have reciprocated with more than ample funds,” Mr. Nakpil further added.

In a separate exchange, Fernand Antonio Tansingco, Metrobank Senior Executive Vice President and Head of Financial Markets Sector, said: “We are grateful to our loyal clients for the support and continued trust. The result of our bond issuance shows that there is still strong confidence for high-quality issuers like Metrobank amid our current market condition.”

This 24th admission for 2022 brings the year-to-date total of new listings to PHP 409.84 billion, pushing the total level of tradable corporate debt instruments to PHP 1.34 trillion issued by 55 companies, comprised of 193 securities.