Metropolitan Bank & Trust Co. (Metrobank) has jacked up its bond and commercial paper program to P200 billion from the earlier approved P100 billion.

The bonds and commercial papers will be issued in one or more tranche/s and tenors of at least three months.

Metrobank said the funds to be raised would be used to refinance maturing issuances and diversify funding sources over the next three years while supporting the bank’s lending activities.

Since November 2018, Metrobank has raised over P100 billion from its peso bond offerings.

Metrobank reported a 46 percent jump in its nine-month net income to P16.1 billion as provisions for bad loans declined.

The bank’s strategy to build a stronger balance sheet has given Metrobank the capacity to withstand prolonged risks and also enabled it to implement strategies to optimize its operating performance in the medium term,” Metrobank presiden Fabian Dee said.

The post Tys boost war chest: Metrobank doubles bond, commercial paper offering first appeared on Bilyonaryo Business News.



Tys boost war chest: Metrobank doubles bond, commercial paper offering
Source: Filipino Daily Inquirer