KUALA LUMPUR, July 11 (Bernama) -- Public Bank has obtained approvals from Bank Negara Malaysia and the Securities Commission to establish a Subordinated Medium Term Notes Programme of up to RM10 billion in nominal value.
It said the notes to be issued from time to time under the Sub-Notes Programme would qualify as Tier 2 capital for computation of the regulatory capital of Public Bank and Public Bank Group in accordance with the Capital Adequacy Framework issued by the central bank.
The tenure of the Sub-Notes Programme is up to 30 years from the date of first issuance under the programme, the group said in a filing to Bursa Malaysia today.
Meanwhile, RAM Rating Services Bhd has assigned AA1 rating to the Sub-Notes Programme.
Public Investment Bank Bhd and CIMB Investment Bank Bhd are the appointed joint principal advisers, joint lead arrangers and joint lead managers in respect of the programme.
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