OTHERS MNRB HOLDINGS BERHAD'S WHOLLY-OWNED SUBSIDIARY, MALAYSIAN REINSURANCE BERHAD ISSUED RM200 MILLION SUBORDINATED MEDIUM TERM NOTES
MNRB HOLDINGS BERHAD |
Type | Announcement | ||||||||||
Subject | OTHERS |
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Description | MNRB HOLDINGS BERHAD'S WHOLLY-OWNED SUBSIDIARY, MALAYSIAN REINSURANCE BERHAD ISSUED RM200 MILLION SUBORDINATED MEDIUM TERM NOTES |
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The Board of Directors ("the Board") of MNRB Holdings Berhad ("MNRB" or "the Company") wishes to announce that its wholly-owned subsidiary, Malaysian Reinsurance Berhad ("Malaysian Re"), had established a Senior and/or Subordinated Medium Term Notes (“MTN”) Programme with a combined programme size of RM800 million (“MTN Programme”) on 13 September 2022. The relevant information and documents of the MTN Programme as required under the Lodge and Launch Framework (“LOLA”), have been lodged with the Securities Commission on 7 September 2022. Further, Malaysian Re had today issued a RM200 million Subordinated MTN under the MTN Programme. The said issuance was fully subscribed by various investors.
The Subordinated MTN qualifies as Tier 2 capital under Bank Negara Malaysia's Risk-Based Capital Framework for Insurers and will further strengthen its capital base to support its medium term Business Remodelling Plan.
The salient terms of the Subordinated MTN issuance by Malaysian Re are as follows:
Maybank Investment Bank Berhad (“Maybank IB”) is the Principal Adviser and Lead Arranger for the MTN Programme while Affin Hwang Investment Bank Berhad, CIMB Investment Bank Berhad and Maybank IB are the Joint Lead Managers for the issuance.
This announcement is dated 26 October 2022. |
Announcement Info
Company Name | MNRB HOLDINGS BERHAD |
Stock Name | MNRB |
Date Announced | 26 Oct 2022 |
Category | General Announcement for PLC |
Reference Number | GA1-26102022-00035 |