Malaysia's Southern Bank plans to issue $150 million subordinated debt

By Reshmi Basu and Paul A. Harris

New York, May 12 - Southern Bank bhd is expected to issue $150 million of lower tier two subordinated debt, according to market sources.

Proceeds will be used to rebalance capital ratio following the issuance of Bumiputra shares.

Goldman Sachs is running the books for Malaysia's ninth largest lender.

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