The regulatory approval received from the Department of Telecommunications (DoT) of India to the proposed scheme of amalgamation (proposed merger) between Idea Cellular Ltd., Vodafone India Limited and Vodafone Mobile Services Limited, announced recently, will make Axiata Group Bhd a financial investor in the largest telecommunications operator in India and one of the biggest in the world.

The merged entity, Vodafone Idea Ltd., will be the largest telecommunications company to compete in one of the world’s fastest growing market. Together, Vodafone Idea will serve a customer base of 440 million, representing 39% of the total market share while its revenue market share is estimated to be at 37.5%.

United Overseas Bank Malaysia Bhd (UOB Malaysia) issues its RM600 million Basel III-compliant Tier 2 Subordinated Medium Term Notes at a fixed coupon rate of 4.80 per cent The Notes are the first bond issuance under UOB Malaysia’s RM8 billion Senior and Subordinated Medium Term Notes Programme and are rated AA1 by RAM Rating Services Berhad.

The issuance was 2.5 times subscribed with orders in excess of RM 1.5billion, an increase of RM500 million from the initial target. Strong investor demand also saw the Notes priced at the lower end of the initial price guidance range with a fixed coupon rate of 4.80 per cent.

United Overseas Bank Malaysia Bhd (UOB Malaysia) issues its RM600 million Basel III-compliant Tier 2 Subordinated Medium Term Notes at a fixed coupon rate of 4.80 per cent The Notes are the first bond issuance under UOB Malaysia’s RM8 billion Senior and Subordinated Medium Term Notes Programme and are rated AA1 by RAM Rating Services Berhad.

The issuance was 2.5 times subscribed with orders in excess of RM 1.5billion, an increase of RM500 million from the initial target. Strong investor demand also saw the Notes priced at the lower end of the initial price guidance range with a fixed coupon rate of 4.80 per cent.