Philippines’ Metrobank boosts bond, paper program to up to PHP 200 billion

By Rebecca Melvin

Concord, N.H., Dec. 15 – Metropolitan Bank & Trust Co. (Metrobank)’s board of directors approved an increase in the lender’s bond and commercial paper program to up to PHP 200 billion from up to PHP 100 billion, according to a disclosure filing with the Philippines Securities and Exchange Commission on Wednesday.

The increase will be in one or more tranches and tenors of at least three months.

The purpose of the program is to refinance maturing issues and diversity the lender’s local currency funding sources over the next three years whilw supporting lending activities.

The bank is based in Makati City, Philippines.

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