Maybank sells RM3.7b of subordinated Islamic bonds

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KUALA LUMPUR (Jan 28): Malayan Banking Bhd (Maybank) has sold Tier 2 subordinated Islamic notes in 2 portions, according to people familiar with the matter who asked not to be named as they aren’t authorized to speak publicly.

* Bank sold RM2b 10-year sukuk at 4.63%, redeemable after 5 years

* Bank sold RM1.7b of 12-year sukuk at 4.71%, redeemable after 7 years

* Notes rated AA1 at RAM Ratings, second-highest investment-grade

* Notes were sold via private placement to selected investors