Malaysia's Maybank to raise up to $5 bln via euro-commercial paper

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(Thurs 04/09/14 20:22:11)

KUALA LUMPUR (Sept 04): Malaysia's Malayan Banking Bhd, the country's largest bank by assets, said on Thursday that it planned to raise up to $5 billion via euro-commercial paper notes.

The bank may issue notes at any time, in U.S. dollar or alternative currencies, it said in an announcement to the stock exchange. Funds from the programme will go towards working capital, general banking and other corporate purposes.

The programme, which was assigned a short-term debt rating of P-2 by Moody's, was arranged by Maybank Investment Bank Berhad and Maybank Kim Eng Securities Pte. Ltd.

The company on Aug. 19 established a separate programme to raise up to 10 billion ringgit with capital securities.