By Marisa Wong
Madison, Wis., Aug. 3 - Public Bank Bhd. announced that it issued RM 3 billion of 4.28% subordinated notes due Aug. 3, 2022 at par on Aug. 3, according to a news release.
The notes make up the fifth tranche under the bank's RM 5 billion subordinated medium-term note program established in 2008.
The notes are callable on Aug. 3, 2017.
The bank said that the subordinated notes were issued to strengthen its capital adequacy ratios.
Proceeds will be used to finance working capital, for general banking and for other corporate purposes.
Public Bank is a Kuala Lumpur-based retail and commercial bank.
| Issuer: | Public Bank Bhd.
|
| Issue: | Subordinated notes
|
| Amount: | RM 3 billion
|
| Maturity: | Aug. 3, 2022
|
| Coupon: | 4.28%
|
| Price: | Par
|
| Yield: | 4.28%
|
| Call: | On Aug. 3, 2017
|
| Settlement date: | Aug. 3
|
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