Maybank Taps Debt Markets with Dual-Tranche Dollar Note Offering

Malayan Banking Bhd (KL:MAYBANK), Malaysia's largest bank by assets, is tapping debt markets to issue US dollar senior unsecured notes. The lender plans to market a three-year tranche of floating-rate notes alongside five-year fixed-rate notes.

The initial price guidance for the three-year notes is set at about 90 basis points above the Secured Overnight Financing Rate (SOFR), while the five-year notes are being marketed at roughly 80 basis points above the yield on the five-year US Treasury note. The three-year notes will mature around September 15, 2029, and the five-year notes will mature on September 15, 2031.

Maybank intends to use the proceeds from the issue for working capital, general banking, and other corporate purposes.