| Type | Announcement |
| Subject | Malayan Banking Berhad’s (“Maybank”) Issuance of RM1.10 Billion Innovative Tier 1 Capital Securities (“RM IT1CS”) under the IT1CS Programme of up to RM4.0 Billion and/or its Foreign Currency Equivalent in Nominal Value (“IT1CS Programme”) |
| Contents | We refer to our earlier announcement dated 5 June 2008 and 31 July 2008 in respect of the approval obtained from the Securities Commission to issue the IT1CS Programme and the successful pricing of the SGD600.0 million IT1CS which was issued under the IT1CS Programme. Aseambankers Malaysia Berhad, on behalf of Maybank is pleased to announce that Maybank had on 25 September 2008 issued RM1.10 billion of IT1CS as part of its capital raising exercise. The RM IT1CS forms part of the overall IT1CS Programme which received a long term rating of AA2 by RAM Rating Services Berhad on 30 May 2008. The 2-notch differential between the rating of the IT1CS Programme and Maybank’s long term financial institutional rating reflects the former’s deeply subordinated nature, long-dated maturity and embedded interest-deferral option. The offering was priced at 6.30% and had received an overwhelming response from investors resulting in an over subscription by over 2.0 times. In view of the strong demand, Maybank had upsized the issue size to RM1.10 billion. The RM IT1CS which matures on 25 September 2068, is callable on 25 September 2018 and on every interest payment date thereafter. The RM IT1CS issued has been structured to comply with Bank Negara Malaysia’s Guidelines on Innovative Tier 1 capital instruments. This announcement is dated 25 September 2008. |
| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 25 Sept 2008 |
| Category | General Announcement |
| Reference No | CU-080925-67661 |