Malayan Banking Berhad Proposed Subordinated Bonds Issuance of Up To RM1.5 Billion With Tenure Of 10 Years From Issue Date On A 10 Non-callable 5 Basis ("The Subordinated Bonds")

Mar 06, 2007 Back
Type Announcement
Subject MALAYAN BANKING BERHAD
PROPOSED SUBORDINATED BONDS ISSUANCE OF UP TO RM1.5 BILLION WITH TENURE OF 10 YEARS FROM ISSUE DATE ON A 10 NON-CALLABLE 5 BASIS ("the Subordinated Bonds")

Contents :

Aseambankers Malaysia Berhad (“Aseambankers”) on behalf of the Board of Directors of Malayan Banking Berhad (“Maybank”) is pleased to announce that the abovesaid Subordinated Bonds issuance has been approved by the Securities Commission on 2nd March 2007.

Bank Negara Malaysia’s approval for the Subordinated Bonds to qualify as Tier 2 capital for purposes of Malaysian capital adequacy regulation has also been obtained on 5th March 2007.

Under the 10 non-callable 5 basis feature, Maybank shall have the option to redeem the Subordinated Bonds on the 5th anniversary of the issue date and on every semi-annual date thereafter together with accrued interest due on the redemption date. Should Maybank not exercise its option to redeem, the holders of the Subordinated Bonds will be entitled to a step-up in the coupon rate from the beginning of the 6th year to maturity of the Subordinated Bonds.

The Subordinated Bonds is expected to be issued by end March 2007, and the proceeds raised shall be utilised to fund Maybank's general banking and financing activities.

This announcement is dated 6 March 2007.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 6 Mar 2007  
Category General Announcement
Reference No CU-070306-56292