Metrobank raises P10B from bond float
The maiden offering was well-received as investors scrambled to put their money in this bank.
Metropolitan Bank & Trust Co. (Metrobank) of bilyonaryo George SK Ty raised P10 billion from the sale of fixed-rate bonds.
The two-year papers carry a 7.15 percent interest per annum.
The initial P2 billion offering was oversubscribed, with the bank receiving P19.635 billion worth of bids.
“We are proud to once again be a trailblazer in the local bond market. Our hope is that this issuance paves the way for a robust market for bank- issued bonds in the near future,” said Metrobank president Fabian S. Dee.