Metrobank Sets Up US$2bn Medium Term Note Program

Metropolitan Bank & Trust Company (PSE:MBT)’s Board of Directors approved the establishment of a Medium Term Note Programme in the aggregate amount of up to US$2 billion or its equivalent in other currencies. Metrobank may from time to time issue, offer and sell notes in such form, amount, currency, tenor, number of tranches, at such interest rate, and under such other terms and conditions as the management of the bank may subsequently determine, approve or ratify.

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The program shall be established to afford the Bank maximum flexibility in accessing markets and maximizing opportunities to raise funding expediently. The issuance of notes pursuant to the program shall be subject to favorable market conditions, any applicable regulatory requirement, and certain closing conditions and deliverables that are usual and customary for transactions of such nature. –