KUALA LUMPUR: Maybank has entered into a landmark deal for a five-year US$350mil term loan facility with 11 global banks.
In a statement, the bank said the syndication established a new benchmark for the Malaysian financial markets as it marked the first time in which the tenure for such a loan to a financial institution had exceeded three years.
The bookrunners for the facility are Barclays Capital and Citigroup.
The other participating banks are Bayern LB, Bank of Tokyo-Mitsubishi UFJ, Calyon, Bank of China, Fortis Bank S.A., KBC Bank N.V., Landesbank Baden-Wurttemberg, NordLB and Sumitomo Trust & Banking Co.
A signing ceremony for the facility was held yesterday between Maybank and the participating banks. Maybank was represented by its president and chief executive officer Datuk Amirsham A. Aziz and deputy president, Encik Agil Natt.
Speaking at the signing ceremony, Amirsham said the successful syndication and participation by the large number of global banks bore testimony to Maybank's financial strength and international standing.
“This term loan will enable Maybank to deliver greater benefits to our customers and stakeholders as it will further expand our capability to fund our US dollar investments and loans at a more competitive rate. The competitive pricing will particularly enable us to pursue initiatives that yield benefits to our customers, not only in terms of services but also in terms of our range of products and pricing,” he added.
Maybank, in a separate statement, said Telekom Malaysia Bhd (TM) has selected Maybank2e.net for its cash management solution in a move to enhance its productivity, deliver cost-savings as well as provide increased convenience to staff and customers.
A signing ceremony between Maybank and TM was held at Menara Maybank yesterday for the implementation of Maybank2e.net solutions at TM.
Signing on behalf of Maybank was Amirsham while TM was represented by senior vice-president for group strategy and technology Zamzamzairani Mohd Isa. Maybank2e.net is an integrated online enterprise cash management financial portal providing 24-hour, 7-day-a-week access.