Metro Bank MTROLN

October 19, 2020 - 11:03am EST by

member

						2020	2021
Price:		0.60		EPS		0	0
Shares Out. (in M):		172		P/E		0	0
Market Cap (in $M):		102		P/FCF		0	0
Net Debt (in $M):		0		EBIT		0	0
TEV (in $M):		0		TEV/EBIT		0	0

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7	member 1/07/21 10:03AM Re: Reg S 6
Any offshore fund can own these bonds, and our fund is based offshore albeit not in the UK. Often funds will have a master-feeder structure with the master fund based in the Caymans or similar... login to read the rest 1 view available tags
6	member 1/06/21 4:23PM Reg S
Thanks for an interesting idea. These bonds are Reg S securities, which I understand is a bond or a stock that can’t be offered, sold or delivered within the US. So how do you custody... login to read the rest view available tags
5	member 12/21/20 8:31AM Re: Re: Re: Its B-I-N-G-O for Sir Duffield 4
Yes, that's right regarding the interim and final requirements. The portfolio sale removed the market's worst case fears around a regulatory intervention via an insolvency proceeding, or the regulators forcing the issuance of high coupon... login to read the rest view available tags
4	member 12/20/20 5:39PM Re: Re: Its B-I-N-G-O for Sir Duffield 3
Basically the portfolio sale takes incremental issuance to comply with interim MREL requirements off the table. The BoE has just extended timeframe to meet final MREL requirements to 2023. Probably one or two more positive catalysts on... login to read the rest view available tags
3	member 12/19/20 12:23PM Re: Its B-I-N-G-O for Sir Duffield 2
Agreed that the portfolio sale is very positive news for the bonds, as the threat of "forced MREL issuance at uneconomic rates" has been the most commonly cited concern by bond investors - and this... login to read the rest view available tags
2	member 12/18/20 3:48PM Its B-I-N-G-O for Sir Duffield
Metro Bank said it agreed to sell a portfolio of owner-occupied residential mortgages to NatWest for up to GBP3.13b in cash, a 2.7% premium on gross book value that results in an estimated GBP83m gain. The... login to read the rest 1 view available tags
1	member 11/06/20 8:42AM insider purchases
MTRO's CEO just purchased 1.85mm shares of equity yesterday for £1.1mm, and the new Chairman purchased 30k shares as well. With LT2 trading levels at 38% of par, MTRO bondholders are concerned about a near term... login to read the rest 2 view available tags

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