Malaysia’s Kenanga launches RMB 250 million tier 2 note program

By Marisa Wong

Morgantown, W.Va., March 27 – Kenanga Investment Bank Bhd. is proposing to issue up to RMB 250 million of subordinated notes under a tier 2 subordinated note program, according to a Bursa Malaysia announcement.

Kenanga Investment Bank will act as lead arranger for the 30-year program.

The bonds will have a maturity of at least five years.

Proceeds will be used to invest in the company’s subsidiaries and for working capital and corporate purposes.

The Malaysian financial services company is based in Kuala Lumpur.

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