Thursday, July 7, 2011

RHB Bank gets SC nod for RM3b debt notes plan

KUALA LUMPUR: RHB CAPITAL BHD []'s unit RHB Bank Bhd has received the Securities Commission's approval to issue up to RM3 billion debt notes programme.

RHB Cap said on Thursday, July 7 the issuance would be RM3 billion or its equivalent in other currencies in nominal value of senior notes and/or subordinated notes under a multi-currency medium term notes.

It said the approval for the issuance of the subordinated notes was obtained from Bank Negara Malaysia on May 27.

'The proceeds raised from the programme will be utilised by RHB Bank for its and its subsidiaries' general working capital and other corporate purposes,' it said.

RHB Cap said the tenure of the programme is up to 20 years from the date of first issuance.

RHB Bank has the option to issue senior notes with maturities ranging from one to 20 years from the date of issue and/or (ii) subordinated notes with maturities ranging from 10 to 20 years and callable after five years from the date of issue, at the option of RHB Bank.

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