Metrobank Lists PhP 3.75 Billion LTNCTD Due 2024 in PDExPosted on: July 20, 2017
20 July 2017, Makati Philippines – Metropolitan Bank & Trust Company (Metrobank) returned to the local debt market a fourth time to list its PhP 3.75 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTD) due 2024 on the Philippine Dealing & Exchange Corp. (PDEx) platform. These newly listed MBT LTNCTDs carry an interest rate of 3.875 percent per annum payable quarterly. The purpose of the issuance of the LTNCD is to diversify the maturity profile of funding sources and to support business expansion plans.
Metrobank Senior Vice President Edgar Alan Guerrero led the ringing of the bell to herald the enrolment and start of trading of the MBT LTNCTDs due 2024 on the PDEx platform.
With Metrobank’s listing, the Ty group of companies’ cumulative level of outstanding securities listed on PDEx stands at PhP 55.65 Billion, representing 7.6% of the total corporate fixed-income issues in the organized secondary market. This also brings the year-to-date total of new listings to about PhP 125.51 billion, which is a 124% increase from last year, and the total level of tradable corporate debt instruments to PhP 726.22 billion, reflecting a 24% increase from the same period last year. #