Malaysia's Public Bank to issue $250 million-$300 million 12-year bonds

By Reshmi Basu

New York, June 6 - Public Bank Bhd. plans to issue 12-year bonds in the amount of $250 million to $300 million this week, according to a market source.

The bonds will be non-callable for seven years.

Barclays Capital and Citigroup are the managers of the proposed issuance for the Kuala Lumpur-based banking group.

Last June, Public Bank priced $350 million of subordinated notes due 2014 (Baa1/BBB+) at 99.716 to yield 160 basis points over U.S. Treasuries.

At close of Monday's Asian market, the 2014 bond was spotted at a mid-spread price of 105 basis points over Treasuries compared to Friday's close of 99 basis points over Treasuries.

Barclays Capital and Citigroup also ran the Regulation S deal.

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