Clifford Chance advises on first US dollar senior bond issuance by a Malaysian bank

23 March 2011 – Singapore: Leading international law firm Clifford Chance has advised Barclays Bank, The Royal Bank of Scotland and Standard Chartered Bank as joint lead managers and bookrunners on Hong Leong Bank Berhad’s US$300 million bond issuance.

The issuance of 3.75 per cent notes due 2016 is the first US dollar senior bond to be issued by a Malaysian bank. CIMB and Hong Leong Investment Bank acted as co-managers for the issuance.
Hong Leong Bank is the sixth-largest commercial lender in Malaysia by assets and is a member of the Hong Leong Group. It is listed on Bursa Malaysia.

“We are delighted to have worked on this transaction,” said Singapore-based Capital Markets partner Joan Janssen. “Clifford Chance has been involved in some very successful and innovative debt capital raising in Malaysia, including the first completed credit-wrapped offering in south east Asia guaranteed by MBIA for the State Government of Sarawak and the first international issuance of Islamic exchangeable certificates out of Malaysia by the Government of Malaysia’s investment holding arm.”
Joan was assisted on this transaction by senior associate Colin Dunlop.

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