Hong Leong Bank issues RM400mil additional Tier 1 capital securities

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) has issued RM400 million in nominal value Additional Tier 1 capital securities with a perpetual tenure of five years.

In a filing with Bursa Malaysia, the bank said the proceeds will be used to fulfil Additional Tier 1 capital requirements as per Bank Negara Malaysia’s capital adequacy framework and to refinance an existing tranche of capital securities issued previously under the HLB Additional Tier 1 programme in 2017 with a nominal value of RM400.0 million.