By Marisa Wong
Morgantown, W.Va., Sept. 2 – Metropolitan Bank & Trust Co. (Metrobank) said it will close the offer period for its long-term negotiable certificates of time deposit early due to oversubscription.
Metrobank is moving the close of the offer period on Sept. 5. The company previously set the offer period from Aug. 30 to Sept. 12.
The company plans to sell PHP 5 billion of seven-year negotiable CDs with a coupon of 3˝%, as announced on Aug. 30.
ING is the arranger, bookrunner and a selling agent. Metrobank is the other selling agent.
Investors who still want to participate in the offer may contact Metrobank at +63 02 8 700 700 or ING Bank at +63 02 479 8848, according to a company notice. All the necessary documents must be completed before the close of business on Monday for the orders to be processed.
The issue date remains unchanged at Sept. 19.
The bank is based in Makati City, Philippines.
| Issuer: | Metropolitan Bank & Trust Co.
|
| Issue: | Long-term negotiable certificates of time deposit
|
| Amount: | PHP 5 billion (may be upsized)
|
| Maturity: | Seven years
|
| Bookrunner: | ING
|
| Coupon: | 3˝%
|
| Offer period: | Aug. 30-Sept. 5 (previously Aug. 30-Sept. 12)
|
| Settlement date: | Sept. 19
|
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