Maybank raises US$700 million in dual-tranche dollar bond sale
It plans to use the proceeds for working capital, general banking and other corporate purposes
Malayan Banking, Malaysia's largest bank by assets, has announced a US$700 million dual-tranche dollar bond sale to be used for various corporate purposes. The offering includes US$300 million in three-year floating-rate notes and US$400 million in five-year fixed-rate notes. These notes were priced more favorably than initially anticipated, with the three-year notes at 60 basis points above the SOFR and the five-year notes at 55 basis points above the yield on the five-year US Treasury note.
The three-year notes are set to mature in September 2029, while the five-year notes will mature in September 2031. The five-year notes carry a coupon of 5.088%. The joint lead managers and bookrunners for this sale are Citigroup, HSBC, Maybank, and Wells Fargo Securities.
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