| Type | Announcement |
| Subject | OTHERS |
| Description | ETIQA INSURANCE BERHAD’S ISSUANCE OF TIER- 2 CAPITAL SUBORDINATED BONDS OF RM500.0 MILLION IN NOMINAL VALUE |
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On behalf of Malayan Banking Berhad (“Maybank”), Maybank Investment Bank Berhad is pleased to announce that Etiqa Insurance Berhad (“Etiqa”), a wholly owned subsidiary of Maybank Ageas Holdings Berhad (formerly known as Mayban Ageas Holdings Berhad) which in turn is 69.05% owned by Etiqa International Holdings Sdn Bhd, a wholly owned subsidiary of Maybank, had completed the issuance of Tier 2 capital subordinated bonds of RM500.0 million in nominal value with a tenure of 10 years on a 10 non-callable 5 basis (“Subordinated Bonds”) on 5 July 2013.
All regulatory approvals for the issuance of the Subordinated Bonds were obtained from Bank Negara Malaysia (“BNM”) and the Securities Commission Malaysia on 20 December 2012 and 8 February 2013 respectively. The Subordinated Bonds bears a coupon rate of 4.13% per annum and is intended to qualify as Tier-2 capital of Etiqa subject to compliance with the requirements as specified in the Risk-Based Capital Framework for Insurers issued by BNM (as amended from time to time). The net proceeds from the issuance of the Subordinated Bonds will be utilised to fund Etiqa’s working capital, business operations and other corporate purposes. This announcement is dated 5 July 2013. |
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| Company Name | MALAYAN BANKING BERHAD |
| Stock Name | MAYBANK |
| Date Announced | 5 Jul 2013 |
| Category | General Announcement |
| Reference No | MI-130705-62037 |