Thursday 28 Mar 2024
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KUALA LUMPUR: Public Bank Bhd (PBB) intends to redeem its RM223 million subordinated notes on Dec 10, five years before the original redemption date of Dec 10, 2019.

In a filing with Bursa Malaysia yesterday, the banking group said it had given notice to the noteholders that it would fully redeem the RM223 million debt papers issued in 2009, together with accrued interest. The subordinate notes carry a coupon rate of 4.6% per year.

Public Bank completed a one-for-10 rights issue at RM13.80 per share in August.

The banking stock has been drifting lower since May, falling from a peak of RM20.93 on May 30 to close at RM18.60 yesterday, with a market capitalisation of RM71.75 billion.

 

This article first appeared in The Edge Financial Daily, on November 27, 2014.

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