Others

Apr 29, 2016 Back
Type Announcement
Subject OTHERS
Description 
MALAYAN BANKING BERHAD ("MAYBANK" OR THE "ISSUER")

ISSUANCE OF BASEL III COMPLIANT TIER 2 SUBORDINATED NOTES OF USD500.0 MILLION UNDER A MULTICURRENCY MEDIUM TERM NOTE PROGRAMME OF UP TO USD15.0 BILLION IN NOMINAL VALUE (MTN PROGRAMME)

The board of directors of Maybank is pleased to announce that Maybank has on 29 April 2016 completed the issuance of USD500.0 million Basel III-compliant Tier 2 Subordinated Notes (“Subordinated Notes”) under the MTN Programme via a syndicated offering. 

The issuance details are summarised as follows:

(a) Issuer Malayan Banking Berhad
(b) Issue Date 29 April 2016
(c) Nominal Amount USD500,000,000.00
(d) Tenure 10.5 years on a 10.5 non-callable 5.5 basis
(e) Maturity Date 29 October 2026
(f) Call Date 29 October 2021
(g) Coupon Rate 3.905% per annum payable semi annually up to the call date and thereafter reset to the then prevailing 5 year United States Dollar mid swap rate plus the initial spread.
(h) Details on Utilisation of Proceeds The proceeds from the Subordinated Notes will be utilised to fund Maybank’s working capital, general banking and other corporate purposes.
(i) Issue Ratings Baa2 (Moody's Investors Service) / BBB (Standard & Poor's Ratings Services)

Maybank had on 28 January 2015 and 15 February 2016 obtained approvals from Bank Negara Malaysia (“BNM”) for the revision of the terms and conditions to allow the issuance of Basel III-compliant subordinated notes and for the upsizing of the multicurrency medium term note programme from the initial USD5.0 billion (or its equivalent in other currencies) in nominal value to USD15.0 billion (or its equivalent in other currencies) in nominal value. The subordinated notes issued under the MTN Programme will qualify as Tier 2 capital of the Issuer subject to compliance with the requirements as specified in the Capital Adequacy Framework (Capital Components) published by BNM on 13 October 2015, as amended from time to time.

This announcement is dated 29 April 2016. 




Announcement Info

Company Name MALAYAN BANKING BERHAD
Stock Name MAYBANK
Date Announced 29 Apr 2016
Category General Announcement for PLC
Reference Number GA1-29042016-00034