By Susanna Moon
Chicago, Dec. 31 - Public Bank Bhd. said it issued the fourth tranche of 10-year subordinated medium-term notes for RM 50 million on Thursday.
The notes have a coupon of 4.6% for the first five years and, after that, will step up to 5.6%. They are callable on Dec. 31, 2014.
The bank sold the notes at par under its RM 5 billion medium-term note program. It sold RM 1.4 billion of notes on May 16, 2009, RM 200 million of notes on Nov. 6 and RM 223 million on Dec. 10.
The fourth tranche of notes was issued to bolster the bank's capital adequacy ratios and will qualify as tier 2 capital, according to a press release.
Proceeds will be used for working capital, general banking and other corporate purposes.
Public Bank is a Kuala Lumpur, Malaysia-based retail and commercial bank.
| Issuer: | Public Bank Bhd.
|
| Issue: | Subordinated medium-term notes
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| Amount: | RM 5 billion
|
| Maturity: | 10 years
|
| Coupon: | 4.6% for first five years, 5.6% thereafter
|
| Price: | Par
|
| Call option: | After five years
|
| Settlement dates: | May 16, 2009 (for RM 1.4 billion); Nov. 6 (for RM 200 million), Dec. 10 (for RM 223 million); Dec. 31 (for RM 50 million)
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