By Marisa Wong
Los Angeles, Oct. 28 – Metropolitan Bank & Trust Co. announced it listed on Friday its PHP 23.7 billion of recently priced 5% fixed-rate bonds.
The bond offering was more than two times oversubscribed. Due to the strong demand, the offer period was also shortened.
Metrobank originally planned to issue PHP 10 billion of 5% 1.5-year bonds.
The offer period began on Oct. 6 and was initially set to run to Oct. 19.
First Metro Investment Corp., ING Bank NV, Manila Branch and Standard Chartered Bank were the joint lead managers and joint bookrunners of the offering and also selling agents along with Metrobank.
The bonds were issued under the bank’s PHP 200 billion bond and commercial paper program approved by the bank’s board of directors in December 2021.
Proceeds will be used for general working capital needs.
Metrobank is based in Makati City, Philippines.
| Issuer: | Metropolitan Bank & Trust Co.
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| Amount: | PHP 23.7 billion
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| Issue: | Fixed-rate bonds
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| Maturity: | 1.5 years
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| Bookrunners: | First Metro Investment Corp., ING Bank NV, Manila Branch and Standard Chartered Bank
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| Coupon: | 5%
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| Listing date: | Oct. 28
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