Malaysia's Southern Bank starts roadshow for $150 million 10-year notes Thursday

By Reshmi Basu and Paul A. Harris

New York, June 16 - Southern Bank Bhd will start the roadshow for a $150 million offering of 10-year subordinated notes (long-term foreign currency Baa2, long-term subordinated debt -/-/BBB-) Thursday, according to a market source.

Pricing is expected on either June 22 or June 23.

The lower tier 2 notes will be callable with a coupon step-up in 2009.

Proceeds will be used for general banking and working capital purposes.

Goldman Sachs is running the books for the Regulation S deal for Malaysia's ninth largest bank.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.