Alliance Bank Malaysia issues subordinated bond

Alliance Bank, one of Malaysia''s anchor banks, has issued M$535 million in subordinated debt.

Alliance Bank Malaysia, formed as one of the country's ten anchor banks following restructuring in the banking system, has launched a subordinated fixed rate bond offering via Deutsche Bank.

The M$535 million $140.8 million issue has a maturity of ten years, with a step up after the fifth year, and was rated A3 by Rating Agency of Malaysia, one notch below the bank's long term-rating. It priced at par and carries a 7.75% coupon, 250 basis points over...

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