By Marisa Wong
Morgantown, W.Va., April 25 – Malaysia’s Public Bank Bhd. issued RM 2 billion of 4.85% notes on Tuesday, 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 fourth tranche issued under the bank’s RM 10 billion Basel III-compliant tier 2 subordinated medium-term note program.
Bank Negara Malaysia and the Securities Commission Malaysia approved the 30-year program in 2013. Public Investment Bank Bhd. and CIMB Investment Bank Bhd. were appointed as joint lead arrangers and joint lead managers, as previously noted.
Proceeds from the latest tranche 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 2 billion
|
| Maturity: | April 23, 2027
|
| Managers: | Public Investment Bank Bhd. and CIMB Investment Bank Bhd.
|
| Coupon: | 4.85%
|
| Call: | April 25, 2022
|
| Settlement date: | April 25
|
| Rating: | RAM Rating: AA1
|
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