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Metrobank raises 18B pesos in bond reissuance

Metropolitan Bank & Trust Co. raised 18 billion Philippine pesos through a reissuance of fixed-rate bonds, more than triple the initial plan to raise 5 billion pesos.

The two-year notes carried an interest rate of 7.00%, according to a Dec. 17 stock exchange filing.

Standard Chartered Bank served as sole arranger and book runner for the exercise.

As of Dec. 17, US$1 was equivalent to 52.93 Philippine pesos.