CIMB Bank, a unit of Malaysia’s CIMB Group, has raised $498 million through a subordinated debt issue in two parts, Reuters reports. The $445.66 million tranche, which carries a coupon rate of 4.15%, will mature in 10 years, callable at the end of the fifth year The second tranche of $49.5 million, with a coupon rate of 4.70%, will mature in 15 years, callable at the end of the 10th year. The bank intends to use the proceeds for working capital purposes.
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