KUALA LUMPUR: Hong Leong Financial Group Bhd (HFLG) has launched a multi-currency perpetual notes programme and a commercial papers (CP) programme that would allow it to raise up to RM25 billion.
In a filing to Bursa Malaysia today, HLFG said proceeds from issuances under the Notes Programme and CP Programme will be utilised to on-lend to HLFG’s subsidiaries, for investment into HLFG’s subsidiaries, for working capital, general investment and other corporate purposes, the refinancing of any existing financing obligations of HLFG and/or any existing Senior Notes, Sub-Notes, Capital Securities and/or CPs issued under the Notes Programme and/or CP Programme.
HLFG said the perpetual notes programme would involve the issuance of senior notes, Tier-2 subordinated notes (sub-notes), and additional Tier-1 capital securities of up to RM25 billion.
In a separate filing, its subsidiary Hong Leong Bank Bhd (HLBB) announced that it has launched a programme to issue multi-currency additional Tier-1 securities of up to RM10 billion in nominal value (AT1 programme).
HLBB said the AT1 Programme has been assigned an A1 rating by RAM Rating Services Bhd.
Hong Leong Investment Bank Bhd (HLIB) is the principal adviser, lead arranger and lead manager for HLFG’s notes programme and CP programme.