Philippines’ Metrobank plans PHP 20 billion long-term negotiable CDs

By Susanna Moon

Chicago, July 24 – Metropolitan Bank & Trust Co. said it plans to issue up to PHP 20 billion of long-term negotiable certificates of deposit.

Metrobank’s board of directors approved a program for the issue, which amends the amount and terms of the original board resolution passed in October 2013 to reflect regulatory changes, according to a bank notice.

The timing and launch of the program will be determined after securing regulatory approvals and will be subject to market conditions, the bank noted.

The issuer is a Makati City, Philippines-based bank.

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