CIMB Thai Completes Malaysia’s First MYR Denominated Basel III Tier-2 Subordinated Debt by a Foreign Bank
This Sub Debt issuance by CIMB Thai, issued out of a RM2.CIMB Thai Bank Billion Tier-2 Subordinated Debt Programme, represents a landmark transaction in the Malaysian Ringgit (MYR) bond market marking it as MalaysiaRCIMB Group7;s first MYR denominated Basel III subordinated debt issuance by an offshore bank.
The RM4CIMB Thai BankCIMB Thai Bank million Sub Debt, rated AA3 by the RAM Rating Services Malaysia, has a maturity of CIMB GroupCIMB Thai Bank years and is callable at the end of the fifth year and every subsequent semiannual coupon payment dates thereafter. It will be recognized as Tier-2 capital for CIMB Thai under the relevant capital guidelines by the Bank of Thailand. The Sub Debt was priced at a yield to maturity of 5.6CIMB Thai Bank% per annum, which is equivalent to approximately 6-month Libor and 23CIMB Thai Bank basis points after swapping from MYR to USD.
A myriad investors comprising insurance companies (25%), assets managers (39%), private banking accounts (33%) and banks (3%) participated in this landmark transaction.
̶CIMB Thai Bank;Despite this being the first Basel III-compliant sub debt issuance in the MalaysiaRCIMB Group7;s market by a foreign bank amidst the challenging market backdrop, we are very pleased with the results of the size and price that we achieved for this transaction,̶CIMB Group; said Khun Subhak Siwaraksa, President and Chief Executive Officer of CIMB Thai.
̶CIMB Thai Bank;This successful transaction is also a testimonial to the depth of the MYR bond markets, and also an evidence of the confidence that investors have in CIMB Thai and Thailand, as well as ability of CIMB to explain to Malaysian investors about the current political situation in Thailand̶CIMB Group;, added Khun Subhak.
CIMB Investment Bank acted as the sole Principal Adviser, Lead Arranger and Lead Manager for this transaction. Proceeds from the Sub Debt issuance will be used by CIMB Thai for its working capital and general banking purposes.
ข่าวCIMB Thai Bank+CIMB Groupวันนี้
Prudential Thailand and CIMB Thai Announce Partnership, Strengthens Bancassurance Channel in Thailand
Prudential Life Assurance (Thailand) Public Company Limited (Prudential Thailand), a subsidiary of Prudential plc and one of the leading life insurance service providers in Thailand, announced today that it has partnered with CIMB Thai Bank Public Company Limited (CIMB Thai), the Thai banking franchise of CIMB Group Holdings Berhad (CIMB Group). The strategic bancassurance partnership is intended to provide Prudential's leading suite of health and wealth solutions to CIMB's large and growing
CIMB THAI ESTABLISHES STRATEGIC PARTNERSHIP WITH PRUDENTIAL THAILAND FOR THE DISTRIBUTION OF LIFE BANCASSURANCE PRODUCTS
—
Strategic partnership combines ...
AWC and CIMB Thai sign the Bank's first sustainability-linked loan valued at THB 3,000 million to align with their sustainability goals and enhance Thailand as a global sustainable tourism destination
Asset World Corp Public Company Limited (AWC), Thailand's leading integrated lifestyle real estate ...
CIMB THAI PCL. appoints Dato’ Abdul Rahman Bin Ahmad as Director
—
CIMB THAI PCL. is authorized by the Bank of Thailand to appoint Dato’ Abdul Rahman Bin ...
CIMB THAI Bank appoints Tan Keat Jin as a Head, Consumer Banking
—
CIMB Thai Bank stated that the bank has obtained approval from the Bank of Thailand for...
Photo Release: CIMB Thai Bank is a commercial bank registered in Thailand. It provides a wide variety of financial products and services to Corporate, SME and Retail customers. CIMB Thai is a member of CIMB Group, ASEAN’s leading universal bank.
CIMB Receives Bank of Thailand's Approval for Kittiphun Anutarasoti as President/CEO of CIMB Thai
CIMB Thai Bank PCL (CIMB Thai) has obtained approval from Bank of Thailand for the appointment of Khun Kittiphun Anutarasoti as President/CEO of CIMB Thai. He will be taking over from Khun Subhak...
CIMB Group supports C.P. Group’s expansion of rice business in ASEAN
—
CIMB Bank Berhad extends USD 26.5 million credit facilities to Apsara Rice (Cambodi...
CIMB Thai ready to go full throttle in investment bankingWith a strengthened investment banking team and the recruitment of 'Wirach Morakotkarn’ as team leader to generate more income from transactions in ASEAN
CIMB Thai Bank appoints Director
—
CIMB Thai Bank stated that the bank has appointed Dato' Lee Kok Kwan as a Director. Dato' Lee Kok Kwan is also a Board...