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Philippines' Metrobank to issue up to 25B pesos of LTNCDs

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Philippines' Metrobank to issue up to 25B pesos of LTNCDs

Metropolitan Bank & Trust Co. plans to issue up to 25 billion Philippine pesos of long-term negotiable certificates of time deposits, or LTNCDs.

The bank's board approved the plan on Sept. 18.

The bank will issue the certificates in one or more tranches of at least 2 billion pesos per tranche and tenors of 5.5 to 10 years.

As of Sept. 18, US$1 was equivalent to 52.16 Philippine pesos.