Philippines' Metrobank ups 7% 10-year notes to 8.5 billion pesos from 5 billion pesos

By Aaron Hochman-Zimmerman

New York, Oct. 30 - Metropolitan Bank & Trust Co. increased the size of its 7% 10-year lower tier II notes (Baa3//) to 8.5 billion pesos from 5 billion pesos, according to a press release.

ING and Standard Bank were the bookrunners for the notes, which originally priced on Oct. 12.

The notes carry five years of call protection.

The upsize came after the original 5 billion peso issuance was 2.2 times oversubscribed.

Metrobank has the option to further increase the offer to 10 billion pesos.

Metrobank is based in Makati City, Philippines.

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