Business
Metro Bank Holdings PLC and Metro Bank PLC Co...
Metro Bank Holdings PLC and Metro Bank PLC Co....
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nMetro Bank Holdings PLC (MTRO)\n\n\n\n\n\n\nMetro Bank Holdings PLC and Metro Bank PLC Confirm Settlement Date 28-Nov-2023 / 17:39 GMT/BST\n\n\n Metro Bank Holdings PLC (LSE: MTRO LN)\n\n28 November 2023\n\n \n\n \n\nMetro Bank Holdings PLC\n\nLegal Entity Identifier: 984500CDDEAD6C2EDQ64\n\nMetro Bank PLC\n\nLegal Entity Identifier: 213800X5WU57YL9GPK89\n\n \n\nMETRO BANK HOLDINGS PLC AND METRO BANK PLC CONFIRM SETTLEMENT DATE\n\n \n\nTHIS ANNOUNCEMENT IS ONLY FOR DISTRIBUTION OR TO BE MADE AVAILABLE (A) IN THE UNITED STATES, TO (X) “QUALIFIED INSTITUTIONAL BUYERS” WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT AND (Y) “ACCREDITED INVESTORS” AS DEFINED IN RULE 501(A) OF REGULATION D UNDER THE SECURITIES ACT (AS DEFINED BELOW) AND (B) TO PERSONS LOCATED AND RESIDENT OUTSIDE THE UNITED STATES. THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.\n\nMETRO BANK HOLDINGS PLC\n\n(incorporated under the Companies Act 2006 and registered in England and Wales with registered number 14387040)\n\n(the “Company”)\n\nand\n\nMETRO BANK PLC\n\n(incorporated under the Companies Act 2006 and registered in England and Wales with registered number 06419578)\n\n(the “Bank” and together with the Company, “Metro Bank”)\n\nOn 8 October 2023, the Company announced that it had obtained commitments from existing shareholders and other investors to subscribe for £150 million of new equity (the “Equity Raise”) and from existing noteholders to subscribe for £175 million of new fixed rate reset callable notes due 2029 to be issued by the Company (the “New MREL Notes Raise”) and a debt refinancing package in respect of the Company’s £350,000,000 Fixed Rate Reset Callable Notes due 8 October 2025 (ISIN: XS2063492396; Common Code: 206349239) (the “Existing MREL Notes”) and the Bank’s £250,000,000 Fixed Rate Subordinated Notes due 26 June 2028 (ISIN: XS1844097987; Common Code: 184409798) (the “Existing Tier 2 Notes” and together with the Existing MREL Notes, the “Notes”) (the “Debt Refinancing”). Completion of the Equity Raise, the New MREL Notes Raise and the Debt Refinancing are inter-conditional (together, they are referred to ...