Malaysia's AmMerchant Bank to issue RM 200 million 10-year bonds

By Reshmi Basu

New York, Oct. 28 - AmInvestment Group Bhd. said its subsidiary, AmMerchant Bank Bhd., plans to issue RM 200 million 10-year subordinated tier II bonds.

The bonds will be non-callable for five years and will bear a 4¾% coupon for the first five years.

If not redeemed, the coupon will step up by 0.50% per annum to the maturity date.

Proceeds will be used toward the redemption of negotiable subordinated certificates of deposit and for issuance expenses.

ABN Amro has been mandated as the lead manager.

AmMerchant Bank is a Kuala Lumpur, Malaysia-based financial institution.

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