Malaysia's Public Bank sets up RM 5 billion senior MTN program

By Marisa Wong

Madison, Wis., April 8 - Malaysia's Public Bank Bhd. announced an up to RM 5 billion senior medium-term note program.

The Securities Commission Malaysia approved the 20-year program on April 5, according to a Bursa Malaysia announcement.

Each tranche of notes issued under the program will have a maturity of more than one year.

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

Public Investment Bank Bhd. is the lead arranger and lead manager.

RAM Rating Services Bhd. has assigned a final long-term rating of AAA to the senior MTNs to be issued under the program.

The retail and commercial bank is based in Kuala Lumpur.

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