By Marisa Wong
Madison, Wis., Oct. 28 - Malaysia's Public Bank Bhd. issued RM 450 million of 4.77% notes on Monday, according to a Bursa Malaysia announcement.
The notes were issued with a term of 10 years on a non-callable five-year basis.
This is the second tranche issued under the bank's RM 10 billion Basel III-compliant tier 2 subordinated medium-term note program. The bank issued RM 1 billion of 4.8% first-tranche notes in September.
Bank Negara Malaysia and the Securities Commission Malaysia approved the 30-year program on June 14 and July 10, respectively, according to a prior Bursa Malaysia announcement.
Proceeds from the new notes will be used for working capital, general banking and other corporate purposes.
As previously announced, RAM Rating Services Bhd. assigned an AA1 rating to the subordinated notes program.
The retail and commercial bank is based in Kuala Lumpur.
| Issuer: | Public Bank Bhd.
|
| Issue: | Tier 2 subordinated medium-term notes
|
| Amount: | RM 450 million
|
| Maturity: | Oct. 27, 2023
|
| Coupon: | 4.77%
|
| Call: | Oct. 29, 2018
|
| Settlement date: | Oct. 28
|
| Rating: | RAM Rating: AA1
|
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