HLB Issues RM400 Million Nominal Value Of Additional Tier 1 Capital Securities

Hong Leong Bank Berhad has issued RM400million in nominal value of Additional Tier 1 capital securities pursuant to its multi-currency Additional Tier 1 capital securities programme.

The banking group said the proceeds from the issuance of the HLB Capital Securities will be to fulfil the requirements of Additional Tier 1 capital as per the Capital Adequacy Framework by Bank Negara Malaysia and for the refinancing of an existing tranche of RM400 million in nominal value of HLB Capital Securities issued previously under its HLB AT1 Programme.

Additional information

Nominal value: RM400 million

Tenure: Perpetual non-callable 5-years

Distribution rate: 4.70% per annum comprising the benchmark rate plus the credit spread:

  1. Benchmark rate: 5-year Malaysian Government Securities. The first reset date for the benchmark rate will be occurring 5 years after issue date and with subsequent resets every 5 years; and
  2. Credit spread: 0.74%.
  • Distribution payment period: 6 months
  • Optional redemption date: 14 October 2027, and every distribution payment date thereafter
  • Rating: A1 by RAM Rating Services Berhad.
Previous articleMatrade Promotes Malaysia’s Sectoral Sustainability Strengths to German Sourcing Communities
Next articleStraits’ Unit Victoria STS Completes First-Ever Ship-To-Ship LNG Transfer


Please enter your comment!
Please enter your name here