Metro Bank has obtained a standby underwrite for a £350m ($464m) equity raise to be completed later this year, even as short sellers circle around the bank. The miscalculation in its risk-weighted assets (RWAs) announced last month, and an expected delay in getting permission for internal models to calculate those weightings, are both damaging for its capital ratios.
RBC Capital Markets
, Jefferies and Keefe, and Bruyette & Woods are the banks committed to underwriting the deal. It is the same group were on Metro Bank’s raises in 2018
. The plan is to raise equity at some point this in the first
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