Monday, 8 July 2013

Etiqa launches maiden RM500mil Tier 2 capital subordinated bonds

Etiqa Insurance Bhd, the insurance arm of Maybank Group, has issued its maiden Tier-2 capital subordinated bonds of RM500m. In a statement here, Etiqa Insurance said the bond, lead-arranged by Maybank Investment Bank Bhd, was rated AA1 by RAM Rating Services Bhd. It carried a tenure of ten years from the date of issuance on a „ten-year non-call five. basis, it said.

“The bonds would qualify as Tier-2 capital of Etiqa Insurance, subject to compliance with the requirements as specified in the Risk-Based Capital Framework for Insurers issued by Bank Negara for purposes of capital adequacy regulation,” (Starbiz)

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