By Marisa Wong
Morgantown, W.Va., April 20 – Kenanga Investment Bank Bhd. issued RM 5 million of 6¼% notes on Thursday, according to a Bursa Malaysia announcement.
The notes have a 10-year non-callable five-year tenor.
In March, the company announced plans to issue up to RMB 250 million of subordinated notes under a tier 2 subordinated note program, as previously reported.
Kenanga Investment Bank is lead arranger for the 30-year program.
Proceeds from the first-tranche notes will be used for working capital.
The Malaysian financial services company is based in Kuala Lumpur.
| Issuer: | Kenanga Investment Bank Bhd.
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| Issue: | Tier 2 subordinated notes, first tranche
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| Amount: | RM 5 million
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| Maturity: | April 20, 2027
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| Coupon: | 6¼%
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| Arranger: | Kenanga Investment Bank
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| Call option: | Non-callable for five years
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| Settlement date: | April 20
|
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