CIMB gets SC approval for euro MTN

The CIMB group received approval from the Securities Commission for a multi-currency euro medium term note programme  of up to US$1 billion or its equivalent.

In a filing with Bursa Malaysia yesterday, CIMB said the EMTN programme was approved by the SC under its deemed approval process.It had also received Bank

Negara's approval for the establishment of the EMTN Programme on Sept 7, 2010.

The banking group said the net proceeds from the EMTN Programme would be applied by CIMB Bank Bhd for the repayment, refinancing and pre-payment of offshore credit facilities, among others.