Metro Bank Pulls in Big Bids for First Bond Since Overhaul (2)

UK lender Metro Bank Holdings Plc pulled in more than £1.3 billion of investor bids for its first public bond transaction since its debt was restructured in 2023.

The issuer, which offers various financial services in the UK, initially said it wanted to raise £200 million ($259 million) of Additional Tier 1 at about 14.5% according to a person with knowledge of the sale, who asked not to be identified as the information is private. The size of the perpetual deal was then upped to £250 million and the yield revised down to 13.875%, where it priced.

“As a name ...