Metrobank raises P19B from latest bond offer

The Metropolitan Bank (Metrobank) & Trust Co., run by the Ty family, was listed yesterday on the local fixed income trading platform for 19 billion pesos of its latest floating bond, the seventh and final tranche of ‘a 100 billion peso bond and commercial paper program.

The bonds have a term of 5.25 years and a coupon of 3.6% with quarterly interest payments. “We thank our investors for their trust and support. The strong demand allowed us to end the supply period earlier, with orders almost twice what we had initially targeted, and a deviation from the benchmark much tighter than that. what we expected, ”said Angelica Reyes, group director of treasury at Metrobank Stock Exchange in the Philippines on Friday.

“Our investors can rest assured that they can count on Metrobank to continue to provide meaningful banking service and be worthy of the trust they have placed in us,” added Reyes.

Fixed rate bonds denominated in pesos were listed on the Philippine Dealing Exchange.

First Metro Investment Corp. and The Hongkong and Shanghai Banking Corp. Ltd. acted as joint lead managers and joint bookkeepers of the offering. Metrobank, along with the co-leaders and co-bookkeepers, was also a sales agent.

Metrobank implemented its 100 billion peso bond and trading program in 2018. It was the first local bank to issue bonds under Bangko Sentral ng Pilipinas Circulars 975 and 1010, which enabled banks to ” exploit the domestic capital market as an alternative source of funding.

One of the country’s leading banks, Metrobank ended March with an asset base of 2.4 trillion pesos and total equity of 306.6 billion pesos. Its total capital adequacy ratio stood at 19.9% ​​of risk assets, while the Common Equity Tier 1 ratio stood at 19%, both well above regulatory levels. . —Doris Dumlao-Abadilla

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