Wednesday, August 3, 2011

Public Bank issues RM3b debt notes

KUALA LUMPUR: PUBLIC BANK BHD [] has issued RM3 billion of debt notes under the subordinated medium-term notes (MTN) programme.

The bank said on Wednesday, Aug 3 the RM3 billion was the fifth tranche of the RM5 billion nominal value of subordinated MTN programme. The notes are due on Aug 3, 2022 and callable on Aug 3, 2017.

'The interest payable on each subordinated note issued under the fifth tranche is at the rate of 4.28% per annum (coupon rate) from (and including) Aug 3, 2011 up to (but excluding) the date of early redemption in full of such subordinated note or the maturity date (whichever is earlier),' it said.

Public Bank said the coupon rate would remain unchanged throughout the tenure of the subordinated notes which were issued at par.

'The proceeds raised from the issuance of the fifth tranche of subordinated Notes under the subordinated MTN programme shall be used to finance the working capital, general banking and other corporate purposes of Public Bank,' it said.

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