HONG KONG (Sept 8): Malayan Banking Bhd (KL:MAYBANK), Malaysia's biggest bank by assets, has launched a US$700 million (RM2.8 billion) sale of US dollar bonds in two parts, according to an updated term sheet seen on Tuesday.

The offering comprises US$300 million of three-year floating-rate notes and US$400 million of five-year fixed-rate notes.

The three-year notes were priced at 60 basis points above the Secured Overnight Financing Rate (SOFR), a key US benchmark used to price loans and bonds, tighter than the initial price guidance of about 90 basis points.

The five-year notes were priced at 55 basis points above the yield on the five-year US Treasury note, tighter than the initial price guidance of about 80 basis points.

The three-year notes will mature around Sept 15, 2029, while the five-year notes will mature on Sept 15, 2031.

The five-year notes carry a coupon of 5.088%.

Maybank plans to use the proceeds for working capital, general banking and other corporate purposes.

Citigrou, HSBC, Maybank and Wells Fargo Securities are joint lead managers and bookrunners.

Uploaded by Magessan Varatharaja