By Marisa Wong
Morgantown, W.Va., April 4 – Metropolitan Bank & Trust Co. (Metrobank) announced it issued PHP 17.5 billion of 6.3% three-year bonds after completing its public offer period on March 29.
The offering of fixed-rate bonds was upsized from PHP 10 billion due to oversubscription.
The bonds priced at the tighter end of talk, the issuer noted.
HSBC and Standard Chartered Bank – Philippine Branch acted as joint lead managers and bookrunners for the transaction. HSBC and Standard Chartered Bank were also selling agents alongside Metrobank and subsidiary First Metro Investment Corp.
This is the third issuance under Metrobank’s PHP 100 billion bond program approved in 2018 and brings the aggregate issuance to PHP 45.5 billion.
The bank is based in Makati City, Philippines.
| Issuer: | Metropolitan Bank & Trust Co.
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| Issue: | Fixed-rate bonds
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| Amount: | PHP 17.5 billion
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| Maturity: | Three years
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| Bookrunners: | HSBC and Standard Chartered Bank – Philippine Branch
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| Coupon: | 6.3%
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| Offer period end date: | March 29
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| Announcement date: | April 4
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