Malaysia's Alliance Bank gets approval for RM 1.5 billion MTN program

By Marisa Wong

Madison, Wis., Dec. 30 - Alliance Financial Group Bhd. announced that its wholly owned subsidiary, Alliance Bank Malaysia Bhd., received approval from Bank Negara Malaysia of its proposed RM 1.5 billion subordinated MTN program.

The purpose of the MTN program is to redeem the existing RM 600 million tier 2 subordinated bonds issued in May 2006 and to provide working capital.

Alliance Investment Bank Bhd., a subsidiary of Alliance Bank, is the adviser and lead arranger for the MTN program.

The Malaysian bank is based in Kuala Lumpur.

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