Why did you decide to do the bond issue
CIMB's capital base currently comprises almost entirely of common equity, that is Tier 1 capital. Therefore, the issuance of CIMB's Tier 2 sub-debt of $100 million formed an integral part of the firm's proposed capital swap exercise where RM380 million was to be raised in the form of Tier 2 capital to replace RM350 million of Tier 1 capital, which will be returned to CIMB Berhad's shareholders. This capital restructuring exercise is return-on-equity enhancing.
Raising USD denominated as opposed to Ringgit denominated is consistent with the funding requirements of our USD denominated assets.
Will there be...
