Malaysia's Public Bank names managers for 5 billion ringgit subordinated notes program

By Jennifer Chiou

New York, March 19 - Public Bank Bhd. named the banks that will run its proposed tier I stapled securities program covering 5 billion ringgit of subordinated notes.

Non-cumulative perpetual capital securities are to be stapled to the notes.

Public Investment Bank Bhd. is the principal adviser/lead arranger, and Public Investment Bank, CIMB Investment Bank Bhd. and RHB Investment Bank Bhd. are the joint lead managers.

The bank obtained approval from Bank Negara Malaysia and added that the program requires approval from the Securities Commission.

Proceeds will be used for working capital, general banking and other corporate purposes.

Public Bank is a Kuala Lumpur-based retail and commercial bank.

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