Metro Bank's Shares Surge 26% as Colombian Billionaire Takes Control and Finances Strengthened

Shares of UK's Metro Bank surged 26% after the lender announced it had secured a £325 million capital raise and £600 million in debt refinancing. The capital raise includes £150 million of new equity and £175 million of bail-in debt. Colombian banker Jaime Gilinski Bacal, an existing shareholder, led the raise and now holds a controlling 53% stake. The bank plans to shift towards specialist mortgages and commercial lending, while also exploring the sale of up to £3 billion of residential mortgages. The announcement follows concerns raised by regulators last month regarding the bank's internal risk models for mortgages.