Metro Bank Updates on MREL Transaction

RNS Number : 5443O

Metro Bank PLC

02 October 2019

 

METRO BANK PLC

Legal Entity Identifier: 213800X5WU57YL9GPK89

2 October 2019

Metro Bank Updates on MREL Transaction

Further to the update given to the market earlier today Metro Bank announces that the size of the transaction has been set at £350 million. The MREL-eligible senior non-preferred notes will have a six year maturity callable in five years (6NC5) at a coupon of 9.500%.

Metro Bank appreciates the strong support shown by investors in today's transaction, resulting in an order book in excess of £550 million from more than 55 accounts. Allocations and pricing will follow later today.

ENDS

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 and was authorised for release by David Arden, Chief Financial Officer.

Enquiries

For further information on this announcement, please contact:

Metro Bank PLC 

Investor Relations

Jo Roberts

[phone]

[e-mail] 

Media Relations

Charlotte Sjoberg / Tina Coates

[phone] / [phone]

[e-mail]  

Teneo

Charles Armitstead / Haya Herbert-Burns             

[phone] / [phone]

[e-mail]

About Metro Bank

Metro Bank is the revolution in British banking. It is celebrated for its exceptional customer experience and achieved the top spot in the Competition and Market Authority's Service Quality Survey among personal current account holders for its overall service and came second among business current account holders in August 2019. It was also awarded 'Best All Round Personal Finance Provider' at the Moneynet Personal Finance Awards 2019.  It is also recognised by Glassdoor in its 'Best Place to Work UK 2019' top 50 list.

Offering retail, business, commercial and private banking services, it prides itself on using technology to give customers the choice to bank however, whenever and wherever they choose. Whether that's through its growing network of stores open seven days a week, from early in the morning to late at night, 362 days a year;  on the phone through its UK-based 24/7 contact centres manned by people not machines; or online through its internet banking or award-winning mobile app: the bank offers customers real choice.

The bank employs over 3,900 colleagues and is headquartered in Holborn, London.

 Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. 'Metrobank' is the registered trade mark of Metro Bank PLC.

 It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk.

All Metro Bank products are subject to status and approval.

Metro Bank PLC is an independent UK bank - it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.

 

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