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Metrobank raises P23.7B from bond offer
The Ty-led Metropolitan Bank and Trust Company (Metrobank) raised P23.7 billion – more than double the original issue size of P10 billion – from its peso-denominated bond offer.
“The demand from both retail and corporate clients prompted us to increase our initial bond offering by more than two times beyond the PHP10 billion we announced to meet the very strong interest,” said Metrobank senior executive vice president and head of Financial Markets Sector Fernand Antonio Tansingco.
“The funds raised will mainly be used for the Bank’s general capital requirements, including refinancing of some maturing issuances,” Tansingco added.
The 1.5-year bonds with a fixed coupon rate of 5% per annum were listed on the Philippine Dealing and Exchange Corporation (PDEx) on Friday.