<article>Banking giant Metrobank is raising fresh capital through a stock rights offering while SM Prime is offering as much as P20 billion in new bonds.</article>

Banking giant Metrobank is raising fresh capital through a stock rights offering while SM Prime is offering as much as P20 billion in new bonds.
<h3>Metrobank plans stock rights offering</h3>
Listed banking giant Metropolitan Bank &amp; Trust Co (<a href="https://www.dealstreetasia.com/?s=Metrobank">Metrobank</a>) announced plans to raise fresh capital through a stock rights offering of up to a maximum of 819.83 million shares.
In a disclosure to the Philippine Stock Exchange Wednesday, Metrobank said, its board has approved the plan to conduct a stocks rights offer. The timing and size of the transaction, however, are still subject to other details, such as the offer price.
Metrobank believes that the robust growth of the Philippines will continue to support the prospects for accelerated loan expansion across the various segments of the economy
&#8220;The capital raising exercise is expected to enable the bank to pursue these business prospects to sustain the loan growth momentum, leveraging on the bank&#8217;s sales and distribution network that has rapidly expanded in the preceding years,&#8221; Metrobank told the stock exchange.
<h3>SM Prime mulls P20 billion new bond offer</h3>
Property giant <a href="https://www.dealstreetasia.com/?s=SM%20Prime Holdings">SM Prime Holdings</a> (SMPH) is raising as much as P20 billion ($394 million) by offering a new tranche of long term bonds to retail investors, the company disclosed.
SMPH proposed a bond issue of P15 billion, with an oversubscription option of P5 billion, for a maximum aggregate amount of P20.0 billion.
“The bonds are part of the company’s proposed three-year Debt Securities Program of up to P60 billion,” the company said.
The proposed bond issue received a rating of PRS Aaa from the Philippine Rating Services corporations. The rating for SMPH’s outstanding bonds amounting to P70 Billion was likewise maintained at PRS Aaa, SMPH added.
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Banking giant Metrobank is raising fresh capital through a stock rights offering while SM Prime is offering as much as P20 billion in new bonds.

Philippine Digest: Metrobank, SM Prime to raise fresh funds

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Philippine Digest: Metrobank, SM Prime to raise fresh funds

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