HLB completes issuance of RM1.5bil sub notes

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) has completed the issuance of Tier 2 subordinated notes (sub notes) of RM1.5bil on June 22.

In a statement yesterday, HLB said the notes, rated AA2 by RAM Rating Services Bhd, had a maturity date of 12 years from the issue date.

It said the sub notes were callable on any interest payment date falling on or after the seventh anniversary of the issue date.

“They also carry a semiannual coupon of 4.5% per annum,” it said.

HLB said the exercise of the call option on the sub notes shall be subjected to the approval of Bank Negara.

Its group managing director Datuk Yvonne Chia said despite a number of large bond issuances, the sub notes received an encouraging response from a wide range of investors totalling over 30 accounts, with most orders coming from asset managers and insurers. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Malaysia Airlines offers subsidised tickets to boost domestic tourism
O&M business drives Serba Dinamik profits higher in Q3�
Top Glove confirms temporary stoppage of production plants in Klang due to Covid-19�
Soybeans touch 4-1/2 year high of $12 on supply concerns, high demand
Ringgit closes higher vs US$ at 4.0880
CPO futures close higher at RM3,518
Boustead Plantations stages turnaround in 3Q with RM17.9m net profit
US dollar falls to 2018 lows as vaccine optimism damps haven demand
HLT Global posts lower Q3 profit, as operating cost jumps�
PRG returns to black in 3Q with RM19mil net profit

Stories You'll Enjoy