Malayan Banking gets noteholders’ OK to transition floaters to SOFR

By Mary-Katherine Stinson

Lexington, Ky., March 15 – Malayan Banking Bhd. announced that noteholders representing at least 90% of its bonds have signed off on a transition to SOFR from Libor as a basis for its $27 million floating-rate notes, series 90, due March 11, 2024 (ISIN: XS1960978648), according to an announcement.

The notices of written resolution were initially published on March 9 and were passed on March 15.

It is binding on all noteholders, whether or not they provided their consent to the written resolution.

The notes were originally issued under the bank’s $15 billion multicurrency medium-term note program.

The financial services company and commercial bank is based in Kuala Lumpur, Malaysia.

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