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Public Bank to raise up to RM10b via capital securities

The bank said it had also received approval from Bank Negara Malaysia. — Reuters pic
The bank said it had also received approval from Bank Negara Malaysia. — Reuters pic

KUALA LUMPUR, April 11 — Public Bank Bhd (PBB) has proposed to establish an additional Tier 1 capital securities (AT1CS) programme of up to RM10 billion in nominal value.

In a filing with Bursa Malaysia today, PBB said Public Investment Bank Bhd, which has been appointed the programme’s principle adviser, lead arranger and lead manager, had made the lodgement with the Securities Commission on its behalf.

The bank said it had also received approval from Bank Negara Malaysia on March 7 for the AT1CS programme.

It said the capital securities to be issued from time to time under this programme would qualify as additional Tier 1 capital for the computation of the regulatory capital of the bank and the PBB Group.

“The AT1CS programme and the AT1CS to be issued thereunder shall have a perpetual tenure,” the bank added.

RAM Rating Services Bhd has assigned a rating of AA3 to the AT1CS programme. — Bernama

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