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Hong Kong and Shanghai Banking Corp’s (HSBC) India corporate loan book has grown at a compounded rate of 16% in the last five years led by a tripling in loans to small and medium enterprises (SMEs).
BusinessWorld
May 20, 2021 | 12:01 am
METROPOLITAN BANK & Trust Co. raised P19 billion from its offer of 5.25-year peso-denominated bonds. BW FILE PHOTO
METROPOLITAN Bank & Trust Co. (Metrobank) has raised P19 billion from its offering of peso-denominated bonds, with strong investor appetite causing it to upsize the issue and close the offer period early.
The Ty-led bank said in a disclosure to the stock exchange on Wednesday that the offering, which was originally scheduled to run from May 6 to May 24, was closed on May 18 “due to strong investor demand from both institutional and retail clients.”
“The strong demand prompted the bank to raise the initial offering from an aggregate principal of P10 billion to P19 billion, which also led to a 1.9 times oversubscription,” Metrobank Head of Investor Relations Minda Claver A. Olonan told reporters said via e-mail.
HSBC is close to finding a successor to Peter Wong with two internal candidates in the frame to step up, according to sources.
The 69-year old is set to retire as CEO of HSBC in Asia and the bank is understood to have kicked off an informal search process earlier this year. Wong, who was instrumental in restoring HSBC’s standing in China after it faced censure for its role in a probe of Huawei Technologies by the US, has extended his tenure before and may yet stay on.
But sources within the bank say there is growing talk of a possible solution in time for the bank’s Annual General Meeting on May 28
Metrobank eyes P10B from 5.25-year bonds
May 7, 2021 | 12:06 am
METROPOLITAN Bank & Trust Co. is looking to raise at least P10 billion from its offer of 5.25-year bonds which started on Thursday. BW FILE PHOTO
METROPOLITAN BANK & Trust. Co. (Metrobank) wants to raise P10 billion via a bond offering to boost its capital and funding sources.
The peso-denominated papers will have a tenor of 5.25 years, the Ty-led lender said in a disclosure on Thursday. These bonds will have a fixed rate of 3.6% per annum that will be payable quarterly.
“Proceeds will be used for general working capital needs and diversification of the bank’s funding sources,” Metrobank said.