Establishment of US$2 billion Euro medium term programme and inaugural issuance of S$280 million senior unsecured notes by Baiduri Bank Sendirian Berhad
Allen & Gledhill, as international English law counsel, advised Baiduri Bank Sendirian Berhad (“Baiduri Bank”) on the establishment of its US$2 billion Euro medium term note programme (“Programme”) and its inaugural issuance of S$280 million 2.95% senior unsecured notes due 2029 (“Notes”) under the Programme.
Baiduri Bank is one of the largest providers of financial products and services in Brunei Darussalam and is identified as one of the country's two domestic systemically important banks. It is the first Bruneian entity to establish a Euro medium term note programme, which provides a platform for Baiduri Bank to access international debt capital markets, strengthen funding flexibility, and diversify its sources of funding as it advances its long-term growth ambitions.
Baiduri Bank is also the first Bruneian entity to issue Singapore dollar-denominated notes cleared through The Central Depository (Pte) Limited, and which are listed on the Singapore Exchange Securities Trading Limited. The issuance of the Notes marks Baiduri Bank's debut in the international bond markets, representing a major step in Baiduri Bank’s growth and the continued development of Brunei Darussalam's financial sector.
Advising Baiduri Bank was Allen & Gledhill Partner Maree Quinn.
