Metropolitan Bank and Trust Co. (Metrobank), the country's top lender in assets, said Tuesday its board has approved the issuance of up to P10 billion worth of subordinated debt to form part of Tier 2 capital.
"This new issuance will enhance Metrobank's capital adequacy ratio (CAR) in line with the implementation of the Basel II standards imposed by the Bangko Sentral ng Pilipinas last July 2007," it said.
Metrobank said the notes would be offered in one or more tranches, subject to the central bank's approval.
The bank also said that the issue would replace $200 million worth of its obligations maturing in December 2013 and callable in December this year.
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About Me
- John
- I am a silent type of guy that wanted o have a lot of friend and wanted to help my parents and relatives. Even though we are only 4 in the family but ever since I did not made to feel the care and guidance of my parents.
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