Amcorp completes EB

Amcorp Berhad, the ultimate parent of the entire Arab Malaysian group, raised $100 million yesterday (February 3) from an exchangeable into AMMB, the financial services holding company that owns a bank, insurance arm and investment bank. The Merrill Lynch led deal holds the distinction of being the longest-dated outstanding equity-linked deal from Malaysia and the one with the highest exchange premium. Both feats were achieved because the group was prepared to offer a fairly chunky yield.