Maybank prices RM2.4 billion notes at 3.25pc
KUALA LUMPUR, Sept 14 — Malayan Banking Bhd (Maybank), Malaysia's largest bank by asset size, has successfully priced its US$800 million (RM2.4 billion) subordinated notes at a yield of 3.25 per cent, it said today.
The 10-year notes were given a rating of BBB+ by Standard & Poor's, and will be traded on exchanges in Singapore and Labuan.
The issuance is part of the company's US$5 billion multi-currency medium-term note programme.
"Investors have responded enthusiastically to the opportunity, this exhibits the confidence they have in us.
|The book size was robust with over US$4.5 billion draw from a well-diversified investor base of over 200 accounts," said president and chief executive Abdul Wahid Omar.
Proceeds will be used for working capital, general banking and other corporate purposes, Maybank said. — Reuters