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April 24, 2024

Metrobank eyes $500 million from offshore senior note issuance

Metropolitan Bank and Trust Co. (Metrobank) of the Ty family plans to raise $500 million through the issuance of “Reg S” US dollar-denominated senior unsecured notes.

The bank has been assigned a “Baa2” rating with a “stable” outlook by Moody’s Investors Service, and a “BBB-” rating with a stable outlook by Fitch Ratings.

The funds generated from this issuance will be allocated towards diversifying funding sources and bolstering operational support.

BofA Securities and UBS serve as joint global coordinators and bookrunners, while MUFG and FMIC act as joint bookrunners.