KUALA LUMPUR (Feb 3): Standard & Poor's Ratings Services assigned its 'A-' long-term foreign currency issue rating to the proposed issue of senior unsecured notes by MALAYAN BANKING BHD []. (A-/Stable/A-2).
“The proposed issue will be a drawdown under the bank's US$2 billion multi-currency medium-term note program (unrated). The rating on the notes is subject to our review of the final issuance documentation,” it said.
The ratings agency said the fixed-rate notes would constitute direct, unconditional, unsubordinated, and unsecured obligations of Maybank.
The notes would rank pari passu with all other unsecured and unsubordinated obligations of the bank.
“We expect Maybank to use the proceeds from the proposed issue for working capital, general banking, and other corporate purposes,” it said.
“The proposed issue will be a drawdown under the bank's US$2 billion multi-currency medium-term note program (unrated). The rating on the notes is subject to our review of the final issuance documentation,” it said.
The ratings agency said the fixed-rate notes would constitute direct, unconditional, unsubordinated, and unsecured obligations of Maybank.
The notes would rank pari passu with all other unsecured and unsubordinated obligations of the bank.
“We expect Maybank to use the proceeds from the proposed issue for working capital, general banking, and other corporate purposes,” it said.
