Metropolitan Bank & Trust Co., or Metrobank, obtained approval from the Philippine central bank to issue up to 25 billion pesos of long-term negotiable certificates of deposit, or LTNCDs, over a period of one year.

The LTNCDs will carry a tenor of 5.5 years to 10 years, according to a Jan. 15 stock exchange filing.

As of Jan. 15, US$1 was equivalent to 50.80 Philippine pesos.