Business & Finance

Malaysia's Maybank sold 2bn rgt subordinated debt-source

KUALA LUMPUR : Malaysia 's top lender Maybank sold on Thursday 2 billion ringgit ($671 million) in subordinated debt at

Published August 5, 2011 Updated August 5, 2011 04:26am

1 min

By Shoaib Ur Rehman

Add BRecorder as a trusted
source on Google

The 10-year, non-callable 5-year issue was upsized from an earlier planned 1.5 billion ringgit and priced at the lower end of guidance, the source said on Friday.

The issue was oversubscribed by 2.125 times. The debt will be issued on August 15, said the source.

Maybank was not immediately available for comment.

IFR had reported that CIMB , Malaysia's second-largest bank, had issued 1.5 billion ringgit in subordinated debt.

The first CIMB tranche was structured as a 15-year, non-callable 10-year issue with a final size of 150 million ringgit and priced at 4.70 percent on July 29, IFR, a Thomson Reuters publication, said.

The remainder 1.35 billion ringgit tranche was structured as a 10-year, non-callable five-year issue and priced at 4.15 percent, IFR reported.

Read Comments