Metro Bank Issues Inaugural Additional Tier 1 Securities

Metro Bank Holdings PLC has announced the pricing of its inaugural £250 million Additional Tier 1 securities, with a fixed interest rate of 13.875%. These capital securities are set to be issued on March 26, 2025, and are aimed at optimizing the bank's capital structure, enhancing its Tier 1 capital ratio by an expected 410 basis points to 17.5%.

The securities, which are direct, unsecured, and subordinated obligations of Metro Bank, hold a CCC+ rating from Fitch. They are also callable after five years, subject to regulatory approval and conversion trigger provisions.

This issuance aligns with Metro Bank's broader capital management strategy to support growth, while an application for trading on the London Stock Exchange's International Securities Market has been filed.