RHB Bank announced that it had, on 19 January 2023, issued subordinated notes of MYR 500.0 million in nominal value under the MCMTN Programme (“Subordinated Notes”). The Subordinated Notes, rated AA2 by RAM Rating Services Berhad, are issued for a tenure of 10 non-callable 5 years with a fixed coupon rate of 4.51% per annum, payable semi-annually in arrears throughout the entire tenure. The Subordinated Notes will qualify as Tier 2 capital of RHB Bank subject to compliance with the requirements as specified in the Capital Adequacy Framework for Banks (Capital Components) issued by Bank Negara Malaysia on 9 December 2020.

Proceeds raised from the Subordinated Notes will be utilised for RHB Bank's general working capital and other corporate purposes.