Malayan Banking Bhd (Maybank) entered into a landmark US$500mil term loan facility with 11 global banks yesterday.
The pricing level for the three-year facility, at a spread of London interbank offered rate (LIBOR) plus 18 basis points, established a new benchmark for a Malaysian financial institution, Maybank deputy president Datuk Mohammed Hussein said in a statement.
Due to overwhelming support and oversubscription by participating financial institutions, the loan amount has increased from US$400mil to US$500mil.
“With the successful conclusion of this facility, the international debt markets have reaffirmed Maybank's leading position within the regional banking landscape, taking into consideration asset quality, strong governance, transparent management policy and strategic vision,” Mohammed said.
“The facility enables Maybank to further expand on its capability to fund dollar investments and loans at a competitive rate that will enable us to remain committed to pursuing initiatives that yield benefits for customers in terms of services, the range of products, and pricing,” said Mohammed.
A signing ceremony for the facility was held at Menara Maybank between Maybank and the participating banks.
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