Metrobank Offers PhP5B in LTNCDs
Local banking giant Metropolitan Bank and Trust Co. (PSE: MBT) launched on Tuesday an offering of least PhP5 billion worth of long-term negotiable certificates of deposits (LTNCD), taking advantage of ample liquidity in the financial market to generate long-term funding.
The LTNCDs, which will have a tenor of 5.5 years, are offered at a rate of 4 percent a year, payable on a quarterly basis, based on a disclosure to the Philippine Stock Exchange on Tuesday.
Source: Philippine Daily Inquirer