AMBB Capital (L) Ltd, a wholly owned subsidiary of AmBank (M) Berhad, Malaysia's sixth largest bank, has completed it listing of US$200 million in hybrid securities on the Labuan International Financial Exchange (LFX).
The fixed-to-floating rate, step-up non-cumulative nonvoting guaranteed preference shares are guaranteed on a subordinated basis by AmBank and are listed on the LFX and the Singapore Exchange.
They are open to international institutional investors.
The preference shares are rated Ba2 by Moody’s Investors Service, BB by Standard & Poor's Ratings Group and BB by Fitch Ratings Ltd.
AmBank, with total assets of RM51.6 billion ($13.7 billion) as at 30 September 2005, is the sixth-largest Malaysian bank by assets with over 170 branches nationwide.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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