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Malayan Banking gets noteholders’ OK to transition floaters to SOFR
Chicago, Jan. 19 – Malayan Banking Bhd. announced that noteholders representing at least 90% of two of its bonds have signed off on a transition to SOFR from Libor as a basis for its floating-rate notes, according to multiple announcements.
The notices of written resolution were initially published on Jan. 3.
Noteholders had a deadline of 4 a.m. ET on Jan. 18.
The resolutions related to the $22 million floating-rate notes due Dec. 12, 2023 (ISIN: XS1920456651) and the $20 million floating-rate notes due March 14, 2024 (ISIN: XS1963072142).
The company is also soliciting consents for another issue, the $15 million floating-rate notes due April 15, 2024 (ISIN: XS1982042001).
Those consents are due by 4 a.m. ET on Jan. 26.
Shanghai Banking Corp. Ltd. is the paying agent.
The financial services company and commercial bank is based in Kuala Lumpur, Malaysia.
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