Thursday, 10 May 2012

Maybank issues RM2.1 billion subordinated notes

KUALA LUMPUR (May10): MALAYAN BANKING BHD [] said it had issued RM2.1 billion of Subordinated Notes with tenure of 12 years on a 12 non-callable 7 basis under its Subordinated Note Programme of up to RM7 billion in nominal value.

The banking group had on Feb 21 this year proposed to establish a subordinated programme of up to RM7 billion in nominal value.

In a filing Thursday, Maybank the Subordinated Notes were priced at 4.25% and 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 (General Requirements and Capital Components) guideline by BNM.

“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.

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