MANILA, July 24 Metropolitan Bank & Trust Co
(Metrobank), the Philippines' second-biggest lender by
assets, said it would raise up to 20 billion pesos ($462
million) through an offer of long-term negotiable certificates
The timing of the offering will be determined after
regulatory approvals have been received and subject to market
conditions, Metrobank told the Philippine Stock Exchange on
Metrobank has raised 22.5 billion pesos this year from Basel
III-compliant Tier 2 notes, including 6.5 billion pesos from
this week's offering to institutional and retail investors.
The bank said it would use the extra cash to capitalise on
growth opportunities in the expanding domestic economy.
($1 = 43.3 pesos)
(Reporting by Erik dela Cruz; Editing by Stephen Coates)