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Malaysia's Public Bank to redeem 450M ringgit of subordinated notes

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Malaysia's Public Bank to redeem 450M ringgit of subordinated notes

Malaysia-based Public Bank Bhd. plans to redeem 450 million ringgit worth of notes that it issued in 2013.

The lender said in an Oct. 11 release that it will redeem the notes Oct. 29, along with accrued interest.

The 10-year notes, which carry a 4.77% annual coupon rate, were issued Oct. 28, 2013.

As of Oct. 10, US$1 was equivalent to 4.16 Malaysian ringgit.