Public Bank to set up RM10b programme

KUALA LUMPUR: Public Bank Bhd is setting up a RM10bil additional Tier 1 capital securities (AT1CS) programme which will qualify as additional tier one capital.

It said on Wednesday that  Public Investment Bank Bhd had lodged the programme with the Securities Commission.

It had also obtained Bank Negara's approval to set up the AT1CS programme. 

Public Bank said the AT1CS to be issued from time to time under the programme will qualify as additional tier one capital for the computation of the regulatory capital of the banking group i

The programme to be issued shall have a perpetual tenure.

RAM Rating Services Bhd had assigned a rating of AA3 to the programme.

Public Investment Bank is the appointed principal adviser/lead arranger/lead manager.