|
|
Metropolitan Bank (Metrobank) & Trust Co., led by the Ty family, yesterday listed on the local bond trading platform the latest 19 billion pesos of bonds. This is the seventh and final installment of the 100 billion pesos bond and commercial paper project.The bond has a maturity of 5.25 years and a 3.6% coupon with quarterly interest. “We are grateful to our investors for their confidence and support. Strong demand allows us to end the offer period early.
with almost twice as xo online many orders as what we were initially aiming for. And it spreads to benchmarks that are much stricter than we expected,” Metrobank’s head of financial group Angelica Reyes said in a release. Philippine Stock Exchange Our investors are confident that they can rely on Metrobank to continue providing meaningful banking services and worthy of the trust they have placed on us,” Reyes added.
Fixed rate bonds denominated in pesos are listed on the Philippine Stock Exchange.First Metro Investment Corp. and The Hongkong and Shanghai Banking Corp. Ltd. act as co-manager and co-accountant of this offer. Metro Bank with Joint Managers and Joint Accountants also as a sales representative Metrobank established a P100 billion bond and commercial program in 2018, becoming the first local bank to issue bonds under
the Bangko Sentral ng Pilipinas Circulars 975 and 1010. Access to local capital markets as an alternative source of funding One of the country's leading banks, Metrobank, ended March with an asset base of P2.4 trillion and total capital of P306.6 billion. Its total capital adequacy ratio was 19.9% of risk-weighted assets. Meanwhile, the common shareholder tier 1 capital ratio is 19 percent, both above regulatory levels. —Doris Dumlau-Abadilla |
