Explore stories from Atlantic Canada.
LONDON -Metro Bank shares plunged more than 25% on Thursday following reports the British lender was exploring options to raise as much 600 million pounds in debt and equity to bolster its finances.
Metro said in a statement on Thursday it was considering its options, adding that it met its minimum capital requirements and had not made a decision on fundraising plans. A 350 million bond due to mature in 2025 also fell sharply, according to MarketAxess, dropping by around seven pence on the pound from Wednesday's close."Supporting a further capital raise for this struggling bank would be akin to throwing good money after bad, in our view," Gary Greenwood, banking analyst at Shore Capital said in a note.Metro Bank recently brought in Morgan Stanley as adviser, the sources said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Metro Bank Hires Morgan Stanley to Explore Capital Raise OptionsMetro Bank Holdings Plc has appointed Morgan Stanley to explore options including a possible capital raise, a move that comes after the UK challenger bank announced last month it was weighing plans to strengthen its balance sheet.
Read more »
Cape Breton woman living in motorhome at campground due to no affordable housingExplore stories from Atlantic Canada.
Read more »
Blue Jays beat themselves and go meekly into off\u002Dseason after being swept by TwinsExplore stories from Atlantic Canada.
Read more »
Pharmacists limiting refills of diabetes drug Ozempic in Nova Scotia because of worldwide shortageExplore stories from Atlantic Canada.
Read more »
What does the seasonal flu mean for the workplace?Explore stories from Atlantic Canada.
Read more »
Cape Breton\u0027s Bruce Guthro earns Order of Nova Scotia honourExplore stories from Atlantic Canada.
Read more »