CIMB Bank to issue US$500m bonds for SGX listing

KUALA LUMPUR (Jan 20): CIMB Group Holdings Bhd's indirect 99.99%-owned subsidiary CIMB Bank Bhd on Thursday (Jan 20) issued its US$500 million (RM2.09 billion) worth of debt notes on the Singapore Exchange (SGX).

According to CIMB Bank's filing with the SGX on Thursday, the US$500 million debt notes, which pay an annual interest rate of 2.125%, will be listed and quoted on the SGX's Bonds Market at 9am on Friday (Jan 21).

It added that the US$500 million debt notes will mature in 2027.

The bank, however, did not elaborate on its plans on how to use the proceeds from the bond issue.

At Bursa Malaysia as of the time of writing, CIMB's share price fell six sen or 1.13% to RM5.27, giving the bank a market capitalisation of about RM53.87 billion.

Over the past one year, the stock has gained 31% from RM4.04.