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Metropolitan Bank & Trust Co., the second-largest lender in terms of assets, plans to raise at least P10 billion from the offering of peso-denominated fixed-rate bonds that started on Thursday.
Metrobank said in a statement the bond offering is Securities and Exchange Commission registration exempt, with an option to upsize.
The bonds will have a tenor of one and a half years and an interest rate of 5.0 percent per annum, payable quarterly, with the minimum investment amount at P500,000 and additional increments of P100,000. The offer period would run from Oct. 6 to 19, 2022.
“The bonds are intended to be issued and listed on the Philippine Dealing Exchange on Oct. 28, 2022. Proceeds will be used for general working capital needs,” the bank said.
First Metro Investment Corp., ING Bank N.V., Manila branch and Standard Chartered Bank are the joint lead managers and joint bookrunners of the offer. Metrobank, together with FMIC, ING, and SCB are the selling agents.