Metro Bank has a Massive Bond Debt it must repay next year
 

SkyNewsHD
Business editor said the Bank is Safe
but must repay the Massive Bond Debt.


[Metro Bank's shares plunged after
reports it is seeking to raise millions
to bolster its finances.
The bank's shares sank by as much
as a third after newspapers reported
it needed to raise up to £600m.
Metro Bank refused to comment on the
figure and urgency of the talks but said
it "continues to consider how best
to enhance its capital resources".

The bank started in the wake of the
financial crisis and was the first to open
in the UK in more than 100 years.

It positioned itself as a so-called
"challenger" bank to the big
High Street names when it was founded
in 2010, with its promise of being open
seven days a week, and it now has
about 2.7 million customers.

Its shares were briefly suspended
on Thursday morning. But they had already
suffered hefty falls last month after
regulators refused to approve a request
to lower the capital, or cash, requirements
attached to its mortgage business.

The bank is now considering a number
of options to boost its balance sheet before
some £350m worth of debt will need to be
refinanced in October 2025.]

https://www.bbc.co.uk/news/business-67016375