Maybank Raises US$500m From GTSM Issuance

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KUALA LUMPUR, Nov 30 – Malayan Banking Bhd (Maybank), the fourth-largest banking group in Asean, has launched a GreTai Securities Market (GTSM)-listed transaction in Taiwan, which raised US$500 million (RM1.68 billion) from professional institutional investors. This was issued out of Maybank’s existing US$5 billion multi-currency medium term note programme and was the bank’s first 30-year callable zero coupon notes.

The issuance attracted commitments from over a dozen life insurance companies. “Maybank benefited from the recent change in the GTSM guidelines which enable more flexible access by foreign issuers into the Taiwanese capital markets,” Maybank said in a statement last week. KGI Securities Co Ltd and Maybank Kim Eng Securities Pte Ltd acted as joint bookrunners/coordinators for the issuance.

Meanwhile, Maybank group corporate treasurer Odie Lee said the issuance represents another ground-breaking event for the bank and will further enhance its diversification strategy to access sustainable medium- to long-term funding sources. KGI fixed-income head Shannon Hung said investors have responded positively to Maybank’s offering and it was priced competitively against other similar rated issuers.

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