Alliance Bank to raise RM4bil

Fund raising drive: AFGB says the proceeds will be utilised for the general banking, working capital requirements and business purposes of Alliance Bank.

PETALING JAYA: Alliance Bank Malaysia Bhd is planning to raise RM4bil via bonds, joining the ranks of banks which have also announced their intention to raise funds.

In a filing with Bursa Malaysia, its parent company, Alliance Financial Group Bhd (AFGB), said the bank planned to undertake a three-tranche bond issue programme comprising an RM1.5bil senior medium-term notes (MTN) programme, an RM2bil subordinated MTN programme and an RM500mil commercial paper exercise, bringing the total to be raised to RM4bil.