KUALA LUMPUR (Feb 21): MALAYAN BANKING BHD [] has proposed to establish a subordinated programme of up to RM7 billion in nominal value.
Maybank said on Tuesday it had obtained the Securities Commission’s approval for the establishment of the programme.
It had on Dec 14, 2011 had also obtained Bank Negara Malaysia’s approval to issue the subordinated notes.
“The net proceeds from the issuance of the subordinated notes will be utilised to fund Maybank’s working capital, general banking and other corporate purposes,” it said.
It said the notes issued under the programme would qualify as Tier 2 capital of Maybank subject to compliance with the requirements as specified in the risk weighted capital adequacy framework and capital adequacy framework for Islamic Banks guideline by BNM.
Maybank said the tenure of the would be up to 20 years from the date of first issuance of subordinated notes and have a tenure of either the following; 10-year non-callable basis; 15 years on a 15 non-callable 10 basis; 12 years on a 12 non-callable 7 basis or 10 years on a 10 non-callable 5 basis.
Maybank said on Tuesday it had obtained the Securities Commission’s approval for the establishment of the programme.
It had on Dec 14, 2011 had also obtained Bank Negara Malaysia’s approval to issue the subordinated notes.
“The net proceeds from the issuance of the subordinated notes will be utilised to fund Maybank’s working capital, general banking and other corporate purposes,” it said.
It said the notes issued under the programme would qualify as Tier 2 capital of Maybank subject to compliance with the requirements as specified in the risk weighted capital adequacy framework and capital adequacy framework for Islamic Banks guideline by BNM.
Maybank said the tenure of the would be up to 20 years from the date of first issuance of subordinated notes and have a tenure of either the following; 10-year non-callable basis; 15 years on a 15 non-callable 10 basis; 12 years on a 12 non-callable 7 basis or 10 years on a 10 non-callable 5 basis.
