Metrobank eyes P20-B LTNCD float in 2014

Metropolitan Bank & Trust Company (Metrobank) plans to offer up to P20 billion worth of long-term negotiable certificates of deposit (LTNCDs) next year to raise additional funding.

 

In a disclosure to the Philippine Stock Exchange, Metrobank said it received Tuesday a board approval for the issuance.

 

"The bank intends to take advantage of the ample liquidity in the market and to lock-in long-term funding," the disclosure read.

 

Metrobank said the first tranche of LTNCDs is to be launched early next year, once approved by regulators. 

 

On October 3, Moody’s Investors Service upgraded Metrobank's credit rating to investment grade  based on Bank Financial Strength Rating (BFSR) and deposit rating of Baa3. – DOR/VS, GMA News