Troubled British lender Metro Bank ditched a 250 million pound ($311 million) bo...
) ditched a 250 million pound bond issue on Monday after failing to attract investors despite offering a hefty yield.
The bank has struggled to rebuild investor confidence since, while investor concerns about the economic impact of a potential disorderly Brexit have also weighed on its share price. The banks managing the transaction had also reduced the size of the deal sought from a minimum of 250 million pounds to 200-250 million pounds.
“This is not a good outcome for Metro Bank,” he said. “While I appreciate market conditions are not at their most receptive, this is not good omen in the context of the bank’s ability to meet its interim MREL requirement.”
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