Hong Leong Bank Berhad has issued MYR 500.0 million in nominal value of Tier 2 subordinated notes (HLB Sub-Notes) on 19 June 2023 pursuant to its multi-currency Tier 2 subordinated notes programme (HLB T2 Programme). Proceeds from the HLB Sub-Notes shall be utilised, without limitation, for HLB's working capital, general banking and other corporate purposes, and the refinancing of any existing borrowings incurred, subordinated debt issued by HLB and/or any existing subordinated notes issued under the HLB T2 Programme. Some of the salient terms of the HLB Sub-Notes are as follows: Nominal value: MYR 500.0 million; Tenure: 10-years non-callable 5-years; Coupon rate: 4.20% per annum; Coupon payment period: 6 months; Call date: 19 June 2028 and every coupon payment date thereafter.
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