Metropolitan Bank & Trust Company announced that it has priced a USD denominated Reg-S 5.5-year offering at an aggregate principal amount of USD 500 million with a fixed coupon of 2.125% payable semi-annually. Metrobank is rated Baa2 Stable by Moody's and BBB-Stable by Fitch. The Notes were priced at US Treasury spreads of T+200 bps, after initial price guidance of T+235 bps area. The order book was in excess of 5x times oversubscribed with 120 investors at its peak. This reflects the strong confidence investors' have in Metrobank's credit. In terms of distribution, the order book was allocated predominantly to Asia (81%), and the remaining to EMEA (19%). The issuance of the Notes represents the first senior notes of Metrobank in the international capital markets, matching the lowest coupon for a Philippine borrower. Upon issuance, the net proceeds from the bonds will be used to tap longer-term offshore funding, diversify Metrobank's funding sources and finance maturing short-term borrowings.