By Mary-Katherine Stinson
Lexington, Ky., March 7 – Metropolitan Bank & Trust Co. issued senior notes (Baa2) in two tranches under its $2 billion medium-term note program, according to pricing supplements.
The bank sold $500 million of 5 3/8% senior notes due 2029 at 99.879 and $500 million of 5˝% senior notes due 2034 at 99.25.
They are non-callable.
First Metro Investment Corp., Merrill Lynch (Singapore) Pte. Ltd., MUFG Securities Asia Ltd. Singapore Branch and UBS AG Hong Kong Branch were the managers.
The bank’s board of directors approved the notes’ issuance on March 22, 2017 and Sept. 18, 2019.
Proceeds will be used for general corporate purposes.
Metrobank is based in Makati City, Philippines.
| Issuer: | Metropolitan Bank & Trust Co.
|
| Amount: | $1 billion
|
| Issue: | Senior notes
|
| Bookrunners: | First Metro Investment Corp., Merrill Lynch (Singapore) Pte. Ltd., MUFG Securities Asia Ltd. Singapore Branch and UBS AG Hong Kong Branch
|
| Call features: | Non-callable
|
| Trade date: | Feb. 28
|
| Settlement date: | March 6
|
| Rating: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
|
|
| 2029 notes
|
| Amount: | $500 million
|
| Issue: | Senior notes, series 2, tranche 1
|
| Maturity: | March 6, 2029
|
| Coupon: | 5 3/8%
|
| Price: | 99.879
|
| ISIN: | XS2774954650
|
|
|
| 2034 notes
|
| Amount: | $500 million
|
| Issue: | Senior notes, series 3, tranche 1
|
| Maturity: | March 6, 2034
|
| Coupon: | 5˝%
|
| Price: | 99.25
|
| ISIN: | XS2774954577
|
|
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