KUALA LUMPUR: Malaysian lender Hong Leong Bank Bhd obtained regulatory approval for its proposed issuance of up to $1.5 billion worth of bonds to fund working capital needs.

The country's fourth-largest bank by assets said on Monday the fund raising would will come in the form of a euro-denominated medium-term note programme.

"The net proceeds from the programme will be utilised for general working capital and other corporate purposes," the bank said in a stock exchange filing.

Citigroup Global Markets Ltd, HL Bank, Mitsubishi UFJ Securities International Plc and Royal Bank of Scotland Plc are arrangers and dealers for the programme.