Kenanga launches RM500m AT1 capital programme to support business growth
KENANGA Investment Bank Bhd has established an Additional Tier 1 Capital Securities (AT1CS) programme of up to RM500 million to strengthen its capital position and support future business needs.
The perpetual securities issued under the programme may be called by the bank with Bank Negara Malaysia's approval and will qualify as Additional Tier 1 capital under the central bank's Capital Adequacy Framework.
Proceeds from the issuance will be used for capital expenditure, working capital, refinancing of existing debt, or other general corporate purposes. –TMR
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