KUALA LUMPUR: MALAYAN BANKING BHD [] issued RM2.0 billion of debt notes priced at 4.10% under its subordinated note programme of up to RM3.0 billion in nominal value.
Maybank said on Monday, Aug 15 the subordinated notes received overwhelming response from investors resulting in an over subscription of 2.125 times.
In view of the strong demand, Maybank upsized the issue size to RM2.0 billion from the initial issue size of RM1.5 billion.
Its president and chief executive officer Datuk Seri Abdul Wahid Omar said: 'The pricing of 4.10% represents one of the tightest pricing for a Tier-2 capital subordinated debt issuance among the recent issues by domestic financial institutions.
'We see this as a reflection of investors' confidence in Maybank's superior credit standing and its leading position in the banking industry.'
The subordinated notes will qualify as Tier 2 capital of Maybank subject to compliance with the requirements specified in the risk weighted capital adequacy framework and capital adequacy framework for Islamic Banks by Bank Negara Malaysia.
The net proceeds would be used for Maybank's working capital, general banking and other corporate purposes.
Maybank said on Monday, Aug 15 the subordinated notes received overwhelming response from investors resulting in an over subscription of 2.125 times.
In view of the strong demand, Maybank upsized the issue size to RM2.0 billion from the initial issue size of RM1.5 billion.
Its president and chief executive officer Datuk Seri Abdul Wahid Omar said: 'The pricing of 4.10% represents one of the tightest pricing for a Tier-2 capital subordinated debt issuance among the recent issues by domestic financial institutions.
'We see this as a reflection of investors' confidence in Maybank's superior credit standing and its leading position in the banking industry.'
The subordinated notes will qualify as Tier 2 capital of Maybank subject to compliance with the requirements specified in the risk weighted capital adequacy framework and capital adequacy framework for Islamic Banks by Bank Negara Malaysia.
The net proceeds would be used for Maybank's working capital, general banking and other corporate purposes.
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