Ty family to raise P10B from Metrobank bond offer

Metropolitan Bank & Trust Company (Metrobank) plans to offer to the public P10 billion worth of retail bonds to fund general working capital requirements.

The bonds have a maturity of 5.25 years and an interest interest rate of 3.6 percent per annum.

Proceeds from the offer will be used to diversify the bank’s funding sources.

The offer period will run from May 6 to 24, subject to appropriate adjustments under market conditions.

First Metro Investment Corp. and The Hongkong and Shanghai Banking Corp. Ltd. are the joint lead managers and joint bookrunners of the offer.

Metrobank has raised a total of P81 billion from the issuance of peso bonds since November 2018.

it is one of the largest and well-capitalized banks in the country, with assets of P2.4 trillion and total equity of P 306.6 billion as of March.