KUALA LUMPUR: HONG LEONG FINANCIAL GROUP BHD [] is providing a RM2.3 billion loan facility to its 63.51% owned HONG LEONG BANK BHD [] to assist it with its risk weighted capital adequacy ratio (RWCAR).
HL Bank said on Tuesday, May 10 the loan was a tier 2 capital cumulative subordinated loan facility and it had on May 6, drawn down on the full facility amount of RM2.3 billion.
'The tenure''of the facility shall be 99 years from the date of the drawdown,' it said.
HL Bank said it may, at any time, at its option and subject to the written approval of Bank Negara Malaysia, prepay the facility in part or in whole provided that it has paid in full all accrued interest due on such prepayment date.
The interest on the facility would be at the rate of the six-month Kuala Lumpur Interbank Offered Rate (KLIBOR) plus spread of 70 basis points per annum, payable quarterly in arrears. HL Bank may, in certain circumstances, defer payment of interest.
HL Bank said on Tuesday, May 10 the loan was a tier 2 capital cumulative subordinated loan facility and it had on May 6, drawn down on the full facility amount of RM2.3 billion.
'The tenure''of the facility shall be 99 years from the date of the drawdown,' it said.
HL Bank said it may, at any time, at its option and subject to the written approval of Bank Negara Malaysia, prepay the facility in part or in whole provided that it has paid in full all accrued interest due on such prepayment date.
The interest on the facility would be at the rate of the six-month Kuala Lumpur Interbank Offered Rate (KLIBOR) plus spread of 70 basis points per annum, payable quarterly in arrears. HL Bank may, in certain circumstances, defer payment of interest.
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