Perpetual notes programme for the issuance of Tier 2 subordinated notes of up to RM1.0 billion in nominal value by Great Eastern Life Assurance (Malaysia) Berhad
Advised OCBC Bank (Malaysia) Berhad as the principal adviser, lead arranger, and lead manager in relation to the establishment of a perpetual notes programme (“Perpetual Notes Programme”) for the issuance of Tier 2 subordinated notes of up to RM1 billion in nominal value by Great Eastern Life Assurance (Malaysia) Berhad (“GELM”) to, among other things, finance or part finance investments, acquisitions, capital expenditure, and/or working capital requirements of the GELM group.
The first tranche of the subordinated notes of RM500 million issued by GELM under the Perpetual Notes Programme comply with both the capital adequacy requirements imposed by Bank Negara Malaysia and the requirements for Tier 2 Capital set out in the Monetary Authority of Singapore (“MAS”)Notice FHC-N133 “Notice on Valuation and Capital Framework for Designated Financial Holding Companies” (“Notice”) and are therefore included as Tier 2 Capital of Great Eastern Holdings Limited. The MAS issued the Notice on 15 November 2023.
Advising OCBC Bank (Malaysia) Berhad was Partner Kelvin Loh.
