By Jennifer Chiou
New York, Nov. 6 - Public Bank Bhd. announced that it issued RM 200 million of notes in the second tranche of its lower tier II subordinated notes program.
On May 16, 2008, the company issued a RM 1.4 billion tranche of the offering of RM 5 billion total of subordinated notes. Public Investment Bank was the bookrunner for the deal.
The recent tranche of notes comes from Public Bank's medium-term note program and is due on Nov. 6, 2019. The notes bear interest at 4.6% until Nov. 6, 2014 and then at 5.6% until maturity.
The securities are callable with a step-up on Nov. 6, 2014.
Proceeds from this tranche will be used for working capital, general banking and other corporate purposes.
Public Bank is a Kuala Lumpur-based retail and commercial bank.
| Issuer: | Public Bank Bhd.
|
| Issue: | Lower tier II subordinated notes
|
| Total amount: | RM 5 billion
|
| Bookrunner: | Public Investment Bank
|
| Announcement date: | April 17
|
| Settlement date: | May 16, 2008 (for RM 1.4 billion); Nov. 6 (for RM 200 million)
|
|
|
| First tranche
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| Maturity: | May 16, 2018
|
| Interest rate: | 4.73% until May 16, 2013, then 5.73% until maturity
|
| Price: | Par
|
| Call option: | On May 16, 2013
|
|
|
| Second tranche
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| Maturity: | Nov. 6, 2019
|
| Interest rate: | 4.6% until Nov. 6, 2014, then 5.6% until maturity
|
| Price: | Par
|
| Call option: | On Nov. 6, 2014
|
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