Corp News

Maybank Establishes a USD500 million U.S. Commercial Paper Programme

03 November 2015

4 min read

Maybank Successfully Establishes
a USD500 million U.S. Commercial Paper Programme

Malayan Banking Berhad (“Maybank”) has successfully established a U.S. Commercial Paper (“Notes”) Programme (“CP Programme”) on 27 October 2015. Under the CP Programme, Maybank New York Branch may issue, from time to time, Notes up to a maximum aggregate amount outstanding at any time of USD500 million in nominal value. Maybank is the fourth largest banking group in ASEAN by total assets, total loans and total deposits based on published financial statements of its financial year ended December 31, 2014.

The CP Programme is fully supported by a USD500 million direct-pay letter of credit which was issued by Wells Fargo Bank, N.A. on 2 November 2015, and has been assigned a Prime-1 rating by Moody’s Investors Services, Inc. and A-1+ by Standard & Poor’s Ratings Services.

The CP Programme has been arranged by Maybank Kim Eng Securities Pte. Ltd., and the co-dealers of the Notes are Wells Fargo Securities, LLC and Citigroup Global Markets Inc. Maybank Investment Bank Berhad is the Principal Adviser for the CP Programme.

Mr. Odie Lee, Maybank’s Group Corporate Treasurer commented “Maybank is pleased to be able to establish the CP Programme, which enables the Group to further diversify its short-term funding sources.”

This announcement (and the information contained herein) does not constitute an offer of securities for sale, or solicitation of an offer to purchase Notes, in the United States or any other jurisdiction where such an offer or solicitation would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from registration as provided in the Securities Act and the rules and regulations thereunder. There is no intention to conduct a public offering of the Notes in the United States. A rating is not a recommendation to buy, sell or hold the notes and may be subject to suspension, reduction or withdrawal at any time by the rating agency.