KUALA LUMPUR: BIMB Holdings Bhd
’s unit Bank Islam Malaysia Bhd has issued the second tranche amounting to RM400mil under its subordinated sukuk murabahah programme of up to RM1bil in nominal value.
In a filing with Bursa Malaysia on Tuesday, BIMB said the sukuk’s tenure would be 10 years, with non-callable five years, and the maturity date would be Dec 15, 2025.
“The proceeds shall be used to finance Bank Islam’s Islamic banking activities, working capital requirements and other corporate purposes and/or, if required, to redeem any outstanding subordinated sukuk murabahah issued under the subordinated sukuk murabahah programme,” it said
BIMB said all utilisation of proceeds would be syariah-compliant and the sukuk was rated ‘A1/stable’ by RAM Rating Services Bhd.
On Oct 10 last year, Bank Islam obtained approvals from Bank Negara and the Securities Commission to establish the subordinated sukuk murabahah programme.
It was further announced on April 22 this year that Bank Islam had issued the first tranche amounting to RM300mil. - Bernama
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