Metro Bank PLC Metro Bank Updates on MREL Transaction (5335O)

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RNS Number : 5335O

Metro Bank PLC

02 October 2019

METRO BANK PLC

Legal Entity Identifier: 213800X5WU57YL9GPK89

Metro Bank Updates on MREL Transaction

2 October 2019

Metro Bank launched a GBP300 million 6nc5 RegS Registered senior non-preferred transaction at a price of 9.500% earlier today. The transaction will include an option for Metro Bank PLC to substitute the Issuer upon the occurrence of a Newco Scheme, as described in the Base Prospectus dated 17 September 2019 and as supplemented on 2 October 2019.

Books are now in excess of GBP475 million. Metro Bank will issue a further announcement when the transaction has been completed, later today.

ENDS

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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October 02, 2019 07:55 ET (11:55 GMT)