Metrobank raises P13.75B from latest bond issuance

Metropolitan Bank & Trust Co. has raised P13.75 billion from its latest issuance of local bonds, which were listed on the Philippine Dealing Exchange on Thursday, Oct. 24.

The 3.5-year peso bonds were priced to yield 4.5 percent per annum and will have quarterly interest payments, the bank disclosed to the Philippine Stock Exchange.

Citing robust demand from both institutional, high-net worth and retail clients, Metrobank upsized the issue amount from the original target of P5 billion. It also cut short the offer period by one week from the initial announcement of October 3 to 16.

The offering was part of Metrobank’s P100 billion bond and commercial paper program. Since November 2018, Metrobank has raised an aggregate total of P70.5 billion from peso bond offerings./TSB