Maybank issues RM634.5m bonds in China

Malayan Banking Bhd (Maybank) rolled out one billion yuan (RM634.52 million) in bonds in China’s interbank bond market through a book-building process earlier this week, as part of the inaugural issuance of an approved six billion yuan in bonds.

In an exchange filing yesterday, Malaysia’s largest financial services group said it received approval from the People’s Bank of China for the yuan-denominated bonds on

Monday, with the issuance of the total six billion yuan to be conducted in multiple tranches within a two-year period.

The senior and unsecured bonds carry three-year tenures with a fixed interest rate of 4.6% per annum and an AAA rating by China Chengxin International Credit Rating Co Ltd. Maybank said proceeds from the issuance would be for the bank’s working capital, general banking and other corporate purposes.