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Metrobank eyes P10B from 5.25-year bonds
May 7, 2021 | 12:06 am
METROPOLITAN Bank & Trust Co. is looking to raise at least P10 billion from its offer of 5.25-year bonds which started on Thursday. BW FILE PHOTO
METROPOLITAN BANK & Trust. Co. (Metrobank) wants to raise P10 billion via a bond offering to boost its capital and funding sources.
The peso-denominated papers will have a tenor of 5.25 years, the Ty-led lender said in a disclosure on Thursday. These bonds will have a fixed rate of 3.6% per annum that will be payable quarterly.
“Proceeds will be used for general working capital needs and diversification of the bank’s funding sources,” Metrobank said.