Metrobank eyes P10B from float

Metropolitan Bank & Trust Co. has announced on Thursday Its offering of Peso-denominated fixed-rate bonds in an aggregate principal of P10 billion, with an option to upsize.

In a statement, Metrobank said the Bonds will have a tenor of one and a half (1.5) years and an interest rate of 5.0 percent p.a., payable quarterly, with the minimum investment amount set at P500,000 and in additional increments of P100,000. The offer period will run from October 06 to 19, 2022.

The Bonds are intended to be issued and listed on the Philippine Dealing Exchange on 28 October 2022.

Proceeds will be used for general working capital needs.

First Metro Investment Corporation, ING Bank N.V., Manila Branch, and Standard Chartered Bank are the Joint Lead Managers and Joint Bookrunners of the offer. Metrobank, together with FMIC, ING, and SCB, are the Selling Agents of this issuance.

The issuance is part of Metrobank’s increased P200 billion Bond and Commercial Paper Program, as approved by its board of directors on 15 December 2021.

Interested investors may visit any Metrobank branch or contact any of the selling agents.

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