24th Sep 2019 06:50
(Alliance News) - Metro Bank PLC has been forced to withdraw a GBP200 million bond sale, the Financial Times reported on Monday.
The challenger bank needs to raise new debt by the end of 2019 to meet EU regulations, the FT continued, but investor confidence has been knocked by the company's financial misreporting issue back in January.
The FT said Metro Bank wanted to raise between GBP200 million to GBP250 million, but had only received GBP175 million of orders by mid-afternoon on Monday.
https://www.ft.com/content/f97bdb62-de14-11e9-9743-db5a370481bc
By George Collard; [email protected]
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