Public Bank to redeem notes

PETALING JAYA: Public Bank Bhd announced to noteholders on Bursa Malaysia, that it is redeeming the US$400mil subordinated notes it had issued on June 20, 2005.

The notes are due in 2017 callable with step-up in 2012 at coupon rate of 5% per annum. Public Bank will fully redeem the US$400mil 5% subordinated notes together with accrued interest on June 20.

The notes, which are listed on the Singapore Stock Exchange, will be delisted from June 21, 2012 upon full redemption by Public Bank