Public Bank issues 3rd tranche of RM20bil sub-notes programmes

KUALA LUMPUR: Public Bank Bhd has issued the third tranche of its RM20 billion subordinated medium-term notes (Sub-Notes) Programme, amounting to RM500 million in nominal value.

In a filing with Bursa Malaysia today, the bank said it had lodged the required information and relevant documents regarding the establishment of the sub-notes with the Securities Commission through Public Investment Bank Bhd.

The proceeds from the sub-notes will be set aside for working capital and general banking purposes.

The sub-notes have a 10-year tenure, maturing on Dec 11, 2034.

Its coupon/interest rate is fixed at 4.00 per cent annually, said Public Bank.

RAM Rating Services Bhd has assigned a long-term rating of AA1 to the sub-notes Programme. - Bernama