Clifford Chance has advised Hong Leong Bank (HLB), Malaysia’s fourth-largest bank by assets Hong Leong Bank is the fourth-largest bank in Malaysia by assets on the establishment of a $1.5 billion Euro Medium Term Note (EMTN) programme, apart from the initial drawdown of US$300 million.

Last year, the firm had acted on HLB's US$300 million bond issuance, the first U.S. dollar senior bond issuance by a Malaysian bank. The EMTN programme, HLB’s first, will be used for general working capital and other corporate purposes.

The Clifford Chance team was led by Singapore capital markets partner Johannes Juette who was assisted by partner Joan Janssen, senior associate Tom Bidwell and associates Ryan Lin and Pui Yee Lai.

"We're delighted to have worked with Hong Leong Bank on its EMTN programme,” said Juette in a statement. “HLB's recent acquisition of EON Capital has positioned HLB as one of the leading financial institutions in Malaysia, and we are proud to support HLB in its regional expansion."

In the transaction, Linklaters acted for the managers, while Adnan Sundra & Low acted for HLB as counsel on Malaysian law. ALB

Ranajit Dam is Southeast Asia Editor at ALB. Follow him on Twitter: @RanajitDam_ALB