Malaysia's RHB Bank amends MTN program to be Basel III-compliant

By Marisa Wong

Madison, Wis., Dec. 27 - RHB Capital Bhd. said its wholly owned subsidiary, RHB Bank Bhd., amended terms and conditions of its RM 3 billion multicurrency medium-term note program.

Subordinated notes to be issued in the future under the amended program will be Basel III-compliant tier 2 notes, according to a Bursa Malaysia announcement.

The bank said that the change has no impact on the current ratings of the program. Senior notes and subordinated notes are still rated AA2 and AA3, respectively, by RAM Rating Services Bhd.

RHB Capital is a Kuala Lumpur-based financing firm.

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