Hong Leong Bank plans RM10b multi-currency program for notes and papers

HONG Leong Bank Bhd (HLB) has submitted a multi-currency program to the Securities Commission Malaysia for the issuance of up to RM10 billion in senior medium-term notes (MTNs) and commercial papers (CPs).

The proceeds from sustainability senior MTNs and CPs will align with HLB’s green bond framework.

Meanwhile, funds from non-sustainability MTNs and CPs will be used for working capital, general banking purposes, corporate needs, or refinancing existing obligations.

RAM Rating Services assigned an AAA rating to the senior MTN program and a P1 rating to the senior CP program.

Hong Leong Investment Bank Bhd serves as the principal adviser and lead manager for both programs. – TMR