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

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