| Type | Announcement |
| Subject | Issuance of Singapore Dollar (“SGD”) 600 million Innovative Tier 1 (“IT1”) Capital Securities (“IT1CS”) pursuant to Malayan Banking Berhad’s (“Maybank”) RM4.0 Billion and/or its Foreign Currency Equivalent IT1CS Programme in Nominal Value |
| Contents | We refer to our earlier announcement dated 5 June 2008 in respect of the approval obtained from the Securities Commission (“SC”) for the IT1CS Programme. Aseambankers Malaysia Berhad, on behalf of Maybank is pleased to announce that Maybank had on 30 July 2008, successfully priced an offering of SGD600.0 million of IT1CS as part of its capital raising exercise. The SGD600.0 million IT1CS is issued under the IT1CS Programme. The offering received an overwhelming response from Singapore based investors resulting in an over subscription by more than 1.5 times of the initial issuance size of SGD500.0 million. In view of the strong demand, Maybank upsized the issuance to SGD600.0 million. The IT1CS has a principal stock settlement mechanism to redeem the IT1CS on the sixtieth (60th) year from the date of issuance. Maybank however, shall have the option to redeem the IT1CS on the 10th anniversary of the issue date and on every interest payment date thereafter. On the 10th anniversary of the issue date, there will be a step-up in the interest rate payable on the IT1CS. The IT1CS to be issued has been structured to comply with Bank Negara Malaysia’s Guidelines on Innovative Tier 1 capital instruments. This announcement is dated 31 July 2008. |
| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 31 Jul 2008 |
| Category | General Announcement |
| Reference No | CU-080730-68424 |