ABB is pleased to announce that the Bank, had today completed the private placement of RM500.0 million of its Subordinated MTNs under the MTN Programme, to selected investors (“Third Series Subordinated MTNs”).

The Third Series Subordinated MTNs will be issued with a tenure of 10 years from the issue date on a 10 non-callable 5 basis and will bear coupon at a rate of 5.0% per annum, payable semi-annually in arrears. The Subordinated MTNs have been assigned a rating of A1 by RAM Rating Services Berhad.

The Bank intends to use the net proceeds of the private placement for general banking, working capital requirements and business purposes of ABB.  The issuance of the Third Series Subordinated MTNs will further enhance the Bank’s Total Capital Ratio by more than 140 basis points.

This announcement is dated 18 July 2022.