The Yen Sukuk issuance is one of the two tranches of BTMU’s inaugural Sukuk issuances from the Multi-Currency Sukuk Programme under the Shariah principle of Wakalah Bi Al-Istithmar of
"The inaugural Sukuk issuances from the Multi-Currency Sukuk Wakalah Programme comprises of two tranches, a US-Dollar denominated Sukuk with aggregate nominal amount of US$25mil and a Yen Sukuk with aggregate nominal amount of 2.5 billion yen.
"The Multi-Currency Sukuk Wakalah Programme has been assigned a long-term rating of AAA(bg)/stable by RAM Ratings," it said.
BTMU added that the proceeds from the inaugural issuance would be used for BTMU Malaysia’s Islamic banking business, general corporate purposes, refinancing and working capital requirements.
It said the issuances will also provide the platform for BTMU Malaysia to diversify its funding sources for its global Islamic banking business.
"The two tranches of its inaugural Sukuk issuance will mature on Sept 25, 2015," it noted.
BTMU said the group together with the CIMB Investment Bank Bhd and Mitsubishi UFJ Securities International plc are the Joint Lead Arrangers and Joint Lead Managers for the Multi-Currency
Sukuk Wakalah Programme.
Meanwhile, CIMB Islamic Bank Bhd is the Shariah Adviser for the programme.
We're sorry, this article is unavailable at the moment. If you wish to read this article, kindly contact our Customer Service team at 1-300-88-7827. Thank you for your patience - we're bringing you a new and improved experience soon!
What do you think of this article?