Malaysia’s Maybank sets up RM 20 billion paper/MTN, sukuk programs

By Marisa Wong

Morgantown, W.Va., Dec. 14 – Malayan Banking Bhd. (Maybank) announced it established an up to RM 10 billion commercial paper/medium-term note program.

Maybank Investment Bank Bhd. is the lead arranger and lead manager for the program.

Proceeds from the issuance of paper or notes under the program will be used for working capital, general banking and other corporate purposes, including refinancing existing borrowings or debt instruments.

Maybank also established an up to RM 10 billion sukuk program, according to a separate company announcement.

The program will cover senior sukuk as well as subordinated sukuk. The subordinated sukuk will qualify as tier 2 capital.

Maybank Investment Bank is also the lead arranger, lead manager and bookrunner for the sukuk program.

Funds raised from any sukuk issuance will be used to fund Maybank’s investments in ringgit-denominated and foreign currency-denominated instruments and to fund business activities.

The commercial and retail bank is based in Kuala Lumpur.

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