Public Islamic to raise up to RM500mil via sukuk

KUALA LUMPUR: Public Islamic Bank Bhd (PIBB) is again raising funds by tapping an Islamic medium term notes (sukuk murabahah) programme set up in 2014, issuing the second tranche of subordinated sukuk amounting to RM500mil after a gap of over three years.

In a filing with Bursa Malaysia, parent Public Bank Bhd said the proceeds would be used by PIBB for its working capital, general banking and other corporat purposes.