Malaysia's Public Bank sets talk on $350 million 10-year notes at T+160 to 165 bps

By Reshmi Basu and Paul A. Harris

New York, June 14 - Public Bank has set price guidance for its $350 million 10-year subordinated notes (Baa1/BBB+) at a spread of 160 to 165 basis points over U.S. Treasuries, according to market sources.

Pricing is expected to take place Tuesday after the end of Monday's roadshow in London.

The notes are non-callable for five years. The coupon steps up after five years to 150% of the original step if the notes are not called.

Barclays Capital and Citigroup are running the Regulation S deal.

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