KUALA LUMPUR, June 29 — RHB Bank Bhd has completed its issuance of US$500 million (RM2.07 billion) senior unsecured notes, the fourth issuance under its US$5 billion Euro Medium Term Note Programme (EMTN Programme) which was established on September 23, 2014.
In a filing with Bursa Malaysia today, the bank said the senior notes, rated A3 by Moody’s Investors Service Inc, were priced at five-year US Treasury + 78 basis points (bps) or a yield of 1.66 per cent and will pay a coupon of 1.658 per cent per annum.
“The tenure of the senior notes is for five years, maturing on June 29, 2026. The senior notes will be listed on the Singapore Exchange Securities Trading and Labuan International Financial Exchange,” it said.
RHB Bank said the net proceeds from the issuance of the senior notes will be utilised by the bank for general working capital and other corporate purposes.
Group managing director/chief executive officer Datuk Khairussaleh Ramli said RHB Bank has received strong feedback from investors prior to launching the senior notes and their confidence in the bank’s credit was clearly reflected with the offering reaching a peak order book in excess of US$2.7 billion at final price guidance on June 22, 2021.
“This issuance represents the lowest coupon and tightest spread ever achieved by RHB Bank in the US dollar bond market, marking an encouraging return to the US dollar bond market since our US$300 million offering in February 2019,” he said. — Bernama
