By Marisa Wong
Madison, Wis., July 5 - Etiqa Insurance Bhd. issued RM 500 million of tier 2 capital subordinated bonds on July 5, according to an announcement by Maybank Investment Bank Bhd.
The 4.13% bonds have a tenor of 10 years and are non-callable for five years.
Bank Negara Malaysia and the Securities Commission Malaysia approved the issuance in December and February, respectively.
Proceeds will be used to fund Etiqa's working capital, business operations and other corporate purposes.
Etiqa Insurance is a wholly owned subsidiary of Maybank Ageas Holdings Bhd., which in turn is 69.05% owned by Etiqa International Holdings Sdn. Bhd., a wholly owned subsidiary of Maybank.
| Issuer: | Etiqa Insurance Bhd.
|
| Issue: | Tier 2 capital subordinated bonds
|
| Amount: | RM 500 million
|
| Maturity: | 10 years
|
| Coupon: | 4.13%
|
| Call: | Non-callable for five years
|
| Settlement date: | July 5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
