Public Bank Berhad has announced that the group through Public Investment Bank Berhad lodged with the Securities Commission Malaysia, for the establishment of an RM20 billion Sub-Notes Programme
PBB said it has also obtained approval from Bank Negara Malaysia for the establishment of the Sub-Notes Programme.
According to the report, the RM20 billion Sub-Notes Programme will have a tenure of thirty years from the date of first issuance of the Sub-Notes. It will provide the Issuer the flexibility to issue Sub-Notes from time to time and to be issued under the Sub-Notes Programme will qualify as Tier 2 capital for the computation of the regulatory capital of PBB and PBB Group in accordance with the Capital Adequacy Framework (Capital Components) issued by BNM.
RAM Rating Services Berhad has assigned a long-term rating of AA1 to the Sub-Notes Programme. PIVB has been appointed as the Principal Adviser/Lead Arranger/Lead Manager in respect of the Sub-Notes Programme
