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RHB Investment Bank issues 200M ringgit of subordinated notes

RHB Investment Bank Bhd. issued 200 million Malaysian ringgit of subordinated notes under a multicurrency medium-term note program.

The notes, which qualify as Tier 2 capital, have a tenure of 10 noncallable five years and carry a fixed coupon rate of 4.90% per year, according to an Oct. 11 release.

The bank will use proceeds from the issuance for working capital and general banking purposes.

RHB Investment Bank is a unit of RHB Bank Bhd.

As of Oct. 11, US$1 was equivalent to 4.22 Malaysian ringgit.