Public bank..
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 on Thursday, parent Public Bank Bhd
said the proceeds would be used by PIBB for its working capital, general banking and other corporate purposes.
The first tranche was issued back in June 2014, also amounting to RM500mil with a tenure of 10 years (noncallable - i.e. not redeemable - within five years). The coupon rate was 4.75% per annum.
The latest tranche has a coupon rate of 4.65% per year, with maturity date of Aug 3, 2027.
RAM Rating Services Bhd has assigned a final long-term rating of AA1 to the subordinated sukuk under the sukuk murabahah programme.
The sukuk murabahah programme of up to RM5bil in nominal value established by PIBB has a tenure of up to 30 years from the date of first issuance.
Limited time offer:
Just RM5 per month.
