Bumiputra-Commerce mandates dollar sub debt

Malaysia''s second largest banking group lays plans for a $200 million lower tier 2 issue.

Morgan Stanley has won the ratings advisory mandate for Bumiputra-Commerce Bank BCB and is also expected to win books for the bank's forthcoming 10 non-call five sub debt issue alongside Commerce International Merchant Bank CIMB, the investment banking arm of BCB's parent Commerce Asset Holdings.

The US investment bank beat off competition from HSBC, JPMorgan and Salomon Smith Barney to win the deal, which may hit the market in late October given the aggressive timetable BCB...

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