Business
Publication of Offering Circular relating to ...
Publication of Offering Circular relating to ....
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\nPublication of Offering Circular relating to the issuance of inaugural Additional Tier 1 securities 24-March-2025 / 15:23 GMT/BST\n\n\nMetro Bank Holdings PLC (LSE: MTRO LN)\n\n24 March 2025\n\nMetro Bank Holdings PLC (the \"Company\")\n\nLegal Entity Identifier: 984500CDDEAD6C2EDQ64\n\nNOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR ITS TERRITORIES OR OTHERWISE THAN TO PERSONS TO WHOM IT CAN LAWFULLY BE DISTRIBUTED\n\n \n\nPublication of Offering Circular relating to the issuance of inaugural Additional Tier 1 securities\n\nThe Company has, on 19 March 2025, priced its inaugural £250m 13.875 per cent fixed rate reset perpetual subordinated contingent convertible capital securities (the \"Capital Securities\"). The Capital Securities will constitute direct, unsecured, unguaranteed and subordinated obligations of the Company and rank pari passu without preference among themselves.\n\nThe Capital Securities are expected, subject to certain conditions, to be issued on 26 March 2025. \n\nThe issue of the Capital Securities is in line with Metro Bank’s capital management framework and strategy and is aimed at optimising the capital structure and providing further flexibility for growth. The successful issuance of the Capital Securities is expected to result in a 31 December 2024 pro forma improvement in Tier 1 capital ratio by c.410bps from 13.4%[1] to 17.5%. \n\nThe Capital Securities are first callable any time in the period commencing on and including the fifth anniversary of the issue date and ending on 26 September 2030, subject to conditions which include prior regulatory consent. They include a conversion trigger of the Common Equity Tier 1 to risk weighted assets ratio falling below 7.00%. \n\nFitch has assigned an expected credit rating of ‘CCC+’ for the Capital Securities. An application has been made for the Capital Securities to be admitted to trading on the International Securities Market of the London Stock Exchange.\n\nThe Offering Circular can be viewed at https://www.metrobankonline.co.uk/.\n\n \n\nEnquiries:\n\n \n\nMetro Bank Holdings PLC Investor Relations\n\n \n\nDaniel Ainscough \n\n+44 (0) 7476 201463\n\[email protected]\n\n \n\nMetro Bank Media Relations\n\nVictoria Gregory\n\n+44 (0) 7773 ...