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Malaysia's Public Bank to redeem 1B ringgit of subordinated notes

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Malaysia's Public Bank to redeem 1B ringgit of subordinated notes

Malaysia-based Public Bank Bhd. plans to redeem 1 billion ringgit worth of notes that it issued in 2013.

The bank said in a Sept. 6 release that it will redeem the 4.80% subordinated notes, due 2023, on Sept. 25, along with accrued interest.

The notes were issued Sept. 25, 2013.

As of Sept. 5, US$1 was equivalent to 4.15 Malaysian ringgit.