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Alliance Bank Malaysia establishes 1B ringgit bond program

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Alliance Bank Malaysia establishes 1B ringgit bond program

Alliance Bank Malaysia Bhd. established a 1 billion Malaysian ringgit Additional Tier 1 bond program.

The bank will issue capital securities of up to 1 billion ringgit under the program. The capital securities are intended to qualify as Basel III-compliant Additional Tier 1 regulatory capital of the bank.

The lender will use the funds raised under the program for its general banking, working capital and other corporate purposes.

Alliance Investment Bank Bhd. is the principal adviser, lead arranger, lead manager and facility agent for the bond program.

As of Oct. 3, US$1 was equivalent to 4.24 Malaysian ringgit.