Bumiputra-Commerce plans 15-year program for RM 3 billion of notes

By Jennifer Chiou

New York, June 19 - Bumiputra-Commerce Holdings Bhd. announced a proposal for a RM 3 billion cumulative subordinated fixed-rate notes program.

The tenor for the notes issued under the 15-year program is 50 years.

The securities may have a call option.

The program obtained approval on June 12, and proceeds from the subordinated notes will go toward working capital and other general corporate purposes.

CIMB Investment Bank Bhd. is the principal adviser, lead arranger and lead manager.

Bumiputra, based in Kuala Lumpur, is the country's second-largest banking group.

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