Maybank’s fixed rate senior unsecured notes rated A- by s&p
Posted on July 19, 2012, Thursday
KUALA LUMPUR: Standard and Poor’s (S&P) Ratings Services yesterday assigned its A- long-term foreign currency issue rating to the HK$600 million fixed-rate senior unsecured notes by Malayan Banking Bhd (Maybank).
It also assigned cnAA Greater China credit scale rating to the notes. The issue will be a drawdown under the bank’s US$5 billion multi-currency medium-term note programme, S&P said in statement yesterday.
“The 10-year fixed-rate notes will constitute direct, unconditional, unsubordinated, and unsecured obligations of Maybank.
“They will rank equal with the bank’s other unsecured and unsubordinated obligations, and without any preference among themselves,” it added.
S&P expected Maybank to use the proceeds from the issue for working capital, general banking, and other corporate purposes.