Metropolitan Bank & Trust Co, one of the Philippines'
three biggest lenders, has raised 16 billion pesos ($353
million) from the issuance of Tier 2 notes to comply with the
Basel III capital framework, the Philippine Star newspaper
The issue was 2.7 times oversubscribed with strong demand
from both institutional and retail investors, prompting
Metrobank to close the offer period three days early and double
the issue size.
NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
($1 = 45.3000 Philippine Pesos)
(Compiled by Manila Newsroom; Editing by Anupama Dwivedi)