[RAM] Public Bank and PBFIN redeem Stapled Securities Programme

RAM Ratings has received confirmation that Public Bank Berhad (the Bank) and PBFIN Berhad (PBFIN) fully redeemed and cancelled their respective RM5.0 bil Non-Cumulative Perpetual Capital Securities and RM5.0 bil Subordinated Notes under their Non-Innovative Tier-1 Stapled Securities Programme (2009/2066) on 9 December 2019. PBFIN is the Bank’s funding conduit. As such, we have withdrawn the AA2/Stable ratings of both facilities and no longer have any rating obligation on them.  

We will, however, maintain surveillance of Public Bank’s AAA/Stable/P1 financial institution ratings and the ratings of the Bank’s following facilities:

Analytical contact
Ann Kimberly Lee 
(603) 3385 2533
annkimberly@ram.com.my

Media contact
Padthma Subbiah
(603) 3385 2577
padthma@ram.com.my