Metro Bank eyes bond market comeback in race for MREL

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By Tyler Davies
17 Sep 2019

After a tumultuous year, the UK’s Metro Bank is readying a return to the bond market to raise debt for its minimum requirement for own funds and eligible liabilities (MREL) ahead of a 2020 deadline.

The lender has hired to Bank of AmericaNatWest Markets and RBC Capital Markets to field interest in a non-preferred senior bond — its debut in the asset class.

Metro is hoping to sell a benchmark-sized deal in the sterling market, with a four year tenor and an option to ...

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