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Maybank raises US$500M from note issue

MalayanBanking Bhd. raised US$500 million from the of Basel III-compliant Tier 2subordinated notes due Oct. 29, 2026.

The 10.5-year notes were issued April 29 through asyndicated offering under the company's US$15 billion medium-term notes program.

The notes have a coupon of 3.905%.

Maybank will use the proceeds from the issuance to fund itsworking capital, general banking and other corporate purposes.