News
RETAIL BANKING | Tony Chua, Malaysia
view(s)

CIMB completes $499.5mn subordinated debt issue

The issue to be used to boost the lender’s working capital is part of a $1.66bn programme.

Malaysia's second largest lender CIMB Group said on Monday its subsidiary CIMB Bank has completed a 1.5 billion ringgit ($499.5 million) subordinated debt issue.

The issue, which was rated AA+ by Malaysian Rating Corp, was issued in two tranches. The 1.35 billion ringgit ($448.73 million) tranche with a maturity of 10 years callable at the end of the fifth year had a coupon rate of 4.15 percent, CIMB Group said in a stock exchange filing.

The 150 million ringgit ($49.85 million) tranche with a maturity of 15 years callable at the end of the tenth year had a coupon rate of 4.70 percent, it said.

View the full story in Reuters.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.