Public Financial institution points eighth tranche of sub-notes value RM2bil

KUALA LUMPUR: Public Financial institution Bhd (PBB) issued at the moment the eighth tranche of the subordinated medium time period notes (Sub-Notes) program amounting to RM2.0 billion.

In a submitting with Bursa Malaysia, it mentioned the issuance has a coupon/rate of interest of three.93 per cent every year, and tenure of 10 years, and non-callable for 5 years.

The maturity date of the Sub-Notes program on April 7, 2032, whereas the decision date is on April 7, 2027.

“The proceeds from the Sub-Notes shall be made out there to PBB, with out limitation, for its working capital, basic banking and different company functions,” it mentioned.

RAM Ranking Providers Bhd has assigned AA1 ranking to the Sub-Notes programme.

“The Sub-Notes 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 Elements) issued by Financial institution Negara Malaysia (BNM),” mentioned PBB.

It additionally mentioned that the issuance of the eighth tranche of Sub-Notes below the Sub-Notes Program won’t have any impact on the issued and paid-up share capital of PBB and the shareholdings of considerable shareholders of PBB.

“The issuance shouldn’t be anticipated to have any materials impact on the earnings of PBB and the PBB Group, the consolidated internet property of the PBB Group and the dividend fee of PBB,” mentioned the financial institution.

PBB had on July 11, 2013, obtained approvals from BNM and the Securities Fee Malaysia to determine the Sub-Notes Program. – Bernama


Source link

Leave a Comment