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RAM Ratings: CIMB Bank plans Additional Tier 1 capital securities program

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RAM Ratings: CIMB Bank plans Additional Tier 1 capital securities program

CIMB BankBhd. plans to issue securities under its proposed 10 billionringgit Additional Tier 1 capital securities program, RAM Ratings said May 11.

The securities issued under the proposed program have a subordinatedranking and coupon payment flexibility. They also possess a loss-absorptionfeature.

RAM Ratings also reaffirmed CIMB Bank's AAA/Stable/P1financial institution ratings.

CIMB Bank is a unit of CIMB Group Holdings Bhd.

As of May 10, US$1 wasequivalent to 4.05 Malaysian ringgit.