Moody’s rates Maybank notes A3

Moody’s Investors Service said it assigned an A3 long-term foreign-currency senior unsecured debt rating to Malayan Banking Bhd.’s (Maybank) proposed HK$300 million notes to be issued under the bank’s $15 billion multicurrency medium-term note program.

The notes bear a fixed rate coupon of 2.66% per year and are due May 13, 2021.

The outlook is stable, in line with the stable outlook on Maybank’s A3 deposit ratings and Malaysia’s A3 sovereign rating, Moody’s said.

The rating on the notes also is in line with Maybank’s A3 foreign-currency deposit rating, the agency added.

The notes will constitute an unconditional, unsubordinated and unsecured obligation of Maybank and rank pari passu with Maybank’s other senior unsecured obligations, Moody’s said.

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