Philippines’ Metrobank launches offering of 5˝-year 4% negotiable CDs

By Marisa Wong

Madison, Wis., Oct. 7 – Metropolitan Bank & Trust Co. (Metrobank) launched an offering of long-term negotiable certificates of deposit on Tuesday, according to a company press release.

The negotiable CDs will be offered at a rate of 4% and will mature in April 2020.

Metrobank mandated Hongkong and Shanghai Banking Corp. Ltd. and ING Bank NV, Manila Branch as the joint lead arrangers and selling agents. Metrobank, First Metro Investment Corp. and Multinational Investment Bancorp. will also act as selling agents for the offer.

The public offer period will run to Oct. 17.

The Makati City, Philippines-based bank announced in July that it planned to issue up to PHP 20 billion of long-term negotiable CDs.

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