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CIMB Bank to issue US$680M in sustainability-related bonds

CIMB Bank Bhd. will issue US$680 million of bonds in line with the United Nation's sustainable development goals, or SDGs, The Edge Malaysia reported, citing a company statement.

The five-year floating rate bonds were priced at a spread of 78 basis points above the three-month U.S. dollar London interbank offered rate, according to the Sept. 30 report. The bonds will be issued Oct. 9.

Proceeds from the issuance will be used to fund projects in line with sustainability guidelines.

The bank plans to list the bonds on Bursa Malaysia, Singapore Exchange Securities Trading and the Taipei Exchange. This marks the first time a Malaysian and ASEAN bank issues SDG bonds in the Reg S international and Formosa markets.