KUALA LUMPUR: Ambank (M) Bhd has completed its maiden US Dollar Senior Unsecured Notes issuance of US$400 million under its US$2.0 billion Euro Medium Term Note Programme, which was established last year.
The notes, with a tenure of five years, will mature on July 3, 2019 and are rated Baa1 by Moody’s Investors Service and BBB+ by Standard and Poor’s Ratings Services.
The transcation was 10.0 times oversubscribed with orders of over US$4.25 billion from 190 accounts, the bank said in a statement.
Ambank said the notes, which carry a coupon of 3.125 per cent, were competitively priced with a re-offer yield of 3.179 per cent and a re-offer price of 99.752.
Group managing director Ashok Ramamurthy said the bank is delighted that its senior notes received overwhelming support and demand from a wide array of investors.
“This successful transaction demonstrates our strong reputation as one of the top tier banks in Malaysia and it is a reflection of the confidence that investors have in our credit profile, sound financial strategy and strength together with our solid business model,” he added.
The net proceeds under the programme will be utilised for general working capital purposes, repayment of borrowings by AmBank and also borrowings of subsidiaries.
AmInvestment Bank Bhd and Australia and New Zealand Banking Group Ltd are the joint lead managers and joint bookrunners for the transactions. — Bernama