Metrobank Issues PHP 19.0 Billion of Bank Bonds
On June 04, 2021, Metropolitan Bank & Trust Company (“Metrobank”) successfully listed PHP19.0 billion of Peso-denominated SEC registration-exempt fixed-rate bonds on the Philippine Dealing Exchange (“PDEx”). This is the seventh and last issuance out of Metrobank’s Board-approved PHP100.0 billion Bond and Commercial Paper Programme.
The Bonds have a tenor of 5.25 years and a coupon of 3.60% with quarterly interest payments.
“We are thankful to our investors for their confidence and support. The strong demand allowed us to end the offer period early, with orders almost two times of what we initially targeted, and at a much tighter spread to benchmark than what we had expected”, said Metrobank Treasury Group Head, Angelica Reyes. “Our investors are assured that they can count on Metrobank to continue providing meaningful banking service and be worthy of the trust they have given us,” Reyes affirmed.
First Metro Investment Corporation and The Hongkong and Shanghai Banking Corporation Limited are the Joint Lead Managers and Joint Bookrunners of the offer. Metrobank, together with the Joint Lead Managers and Joint Bookrunners, is a Selling Agent for the issuance.
About Metrobank
As of March 2021, Metrobank is one of the largest and most stable banks in the country, with a strong balance sheet and asset base of PHP2.4 trillion and is well-capitalized with total equity of PHP306.6 billion. The Bank’s capital ratios were comfortably above regulatory requirements, with total capital adequacy ratio at 19.9% and Common Equity Tier 1 ratio at 19.0%. The Bank has a credit rating of Baa2 from Moody’s Investor Service and BBB- from Fitch Ratings.
Metrobank is the country’s premier universal bank and has one of the largest domestic networks with over 950 branches and more than 2,300 automated teller machines (ATMs) nationwide, and over 30 foreign branches, subsidiaries and representative offices. For inquiries, please contact Corporate Communications Department at 8857-5526, or Investor Relations Department at 8857-5733 and investor.relations@metrobank.com.ph. You may also call the Metrobank 24/7 Customer Hotline at 88700-700, or log on to www.metrobank.com.ph. For provincial areas, call toll-free 1-800-1888-5775.
