RHB Bank prices subordinate debt

  • Business
  • Saturday, 24 Nov 2007

KUALA LUMPUR: RHB Bank Bhd has priced an issue of subordinated debt totalling RM2bil under a medium-term note programme of RM3bil. 

In a statement yesterday, RHB Bank said the subordinated debt, which was arranged by RHB Investment Bank Bhd, would be issued in two tranches on Nov 30. 

The first will have a tenure of 10 years with the option to redeem at the end of the fifth year and the second a maturity of 15 years with option to redeem at the end of the 10th year. 

RAM Rating Services Bhd has accorded the issue a rating of A1. 

RHB Investment Bank managing director Chay Wai Leong said the subordinated debt issue was oversubscribed by an average 1.36 times and 10% went to offshore investors.  

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