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RHB to issue up to 3.0bn bonds

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By Muhammad Iqbal
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kualaKUALA LUMPUR: Malaysia's fifth largest lender RHB Capital said on Thursday that its subsidiary RHB Bank has received central bank approval for the establishment of a multi-currency medium term note programme (MTN).

The bank will issue up to 3 billion ringgit ($996.5 million) in nominal value of senior notes or subordinated notes under the programme, RHB Capital said in a statement to the stock exchange.

The tenure of the programme is up to 20 years from the date of first issuance, and the different notes will have varying maturity periods, RHB added.

RHB Capital said that the proceeds from the note programme will be used by RHB Bank and its subsidiaries for general working capital and repayment of borrowings.

 

Copyright Reuters, 2011

 

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