KUALA LUMPUR: Malayan Banking Bhd (Maybank), the fourth-largest banking group in Asean, has launched a GreTai Securities Market (GTSM)-listed transaction in Taiwan, which raised US$500 million (RM1.68 billion) from professional institutional investors.
This was issued out of Maybank’s existing US$5 billion multi-currency medium term note programme and was the bank’s first 30-year callable zero coupon notes.
The issuance attracted commitments from over a dozen life insurance companies.
“Maybank benefited from the recent change in the GTSM guidelines which enable more flexible access by foreign issuers into the Taiwanese capital markets,” Maybank said in a statement last week.
KGI Securities Co Ltd and Maybank Kim Eng Securities Pte Ltd acted as joint bookrunners/coordinators for the issuance.
Meanwhile, Maybank group corporate treasurer Odie Lee said the issuance represents another ground-breaking event for the bank and will further enhance its diversification strategy to access sustainable medium- to long-term funding sources.
KGI fixed-income head Shannon Hung said investors have responded positively to Maybank’s offering and it was priced competitively against other similar rated issuers.