KUALA LUMPUR (July 1): Affin Bank Bhd (KL:AFFIN) on Monday said the company and its wholly-owned unit Affin Hwang Investment Bank Bhd have established a commercial paper (CP) and medium-term notes (MTN) programmes, with a combined value of RM5 billion.

“The programmes will give Affin and Affin Hwang an additional option to raise funds in the local bond market from time to time, to fund general banking working capital requirements and business purposes of both entities,” it said in a filing.

Affin established the CP programme for up to RM3 billion, while Affin Hwang established both the CP and MTN programmes for up to RM2 billion — which have been lodged to the Securities Commission Malaysia on May 29.

RAM Rating Services Bhd has assigned a short-term rating of P1 for the CP programme by Affin, while Affin Hwang’s CP and MTN programmes have been assigned with a short-term rating of P1 and a long-term rating of AA3.

Affin Hwang is the principal adviser, lead arranger, lead manager and facility agent for the programmes.

Shares of Affin finished unchanged at RM2.49 on Monday, giving the group a market capitalisation of RM5.95 billion. The counter has risen 19.71% since the beginning of this year.