Public Bank has strong fundamentals and above-industry loan growth but pricey.
KUALA LUMPUR: Public Bank plans to redeem the remainder of the US$200mil innovative Tier 1 capital securities due Aug 22, 2036 before the due date.
It said that notice of early redemption was given on Thursday to the holders of the securities that all of the outstanding securities would be redeemed at their principal amount together with accrued interest on Aug 22.
The coupon rate of the securities is 6.84% per annum.
The securities, which are listed on the Singapore Stock Exchange, will be delisted with effect from Aug 23, upon full redemption on Aug 22.
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