INVESTORS SWARM METROBANK BONDS

Investors swarmed Metrobank’s planned P10.5 billion bond offering resulting in the abbreviated offer period of just three days as the appetite for fixed instruments resonated among the well-heeled.

The P10.5 billion peso bonds with a tenor of 1.25 years and a coupon rate of three percent were well received by investors resulting in the cutting of the offer period. The bond offer was supposed to last until June 16.

Both institutional and retail clients swarmed the offer indicating the market’s continued confidence in Metrobank amidst the current pandemic that foisted economic malaise.

The bonds will be listed in the Philippine Dealing and Exchange Corp on June 24, 2020. This is the sixth issue out of Metrobank’s Board-approved PHP100.0 billion Bond and Commercial Paper Program.

Metrobank mandated First Metro Investment Corporation, ING Bank N.V., Manila Branch and Standard Chartered Bank (SCB) as Joint Lead Arrangers for this issuance. Since November 2018, Metrobank has raised a  total of PHP70.5 billion from Peso bond offerings.