PETALING JAYA: Public Bank Bhd
has issued the third tranche of its RM20bil subordinated medium-term notes (Sub-Notes) Programme, amounting to RM500mil in nominal value.
In a filing with Bursa Malaysia yesterday, 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 and interest rate is fixed at 4% annually, said Public Bank.
RAM Rating Services Bhd has assigned a long-term rating of AA1 to the sub-notes programme. Public Bank’s net profit rose 12.4% to RM1.9bil in the third quarter ended Sept 30, compared with RM1.7mil in the year-ago quarter. — Agency
