Malaysia's AMMB gets approval for 7 billion ringgit notes program

By Jennifer Chiou

New York, Feb. 25 - AMMB Holdings Bhd. announced that its subsidiary, AmBank Bhd., obtained approval from the Securities Commission for an up to 7 billion ringgit program to issue senior notes.

The notes issued under the program may have a tenor of between one and 10 years, while the senior notes program itself is good for up to 30 years.

The program received a long-term rating of AA3 from RAM Rating Services Bhd.

AmInvestment Bank Bhd. is the principal adviser, lead arranger and facility agent for the program.

AMMB is a Kuala Lumpur, Malaysia-based retail and commercial bank.

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