BIMB makes early sukuk redemption

The early full redemption of the sukuk Murabahah will reduce BIMB Holdings Bhd’s obligation in view of the group reorganisation exercise.

KUALA LUMPUR: BIMB Holdings Bhd (BHB) has made an early full redemption of RM1.05bil in nominal value of its sukuk Murabahah, which is equivalent to a redemption sum of RM988.4mil, as a prelude to the reorganisation of the group.

This is in connection with the 10-year unrated Islamic securities of nominal value of RM1.66bil BHB issued under the syariah principle of Murabahah.

The sukuk Murabahah was issued at a discount and fully-subscribed by Lembaga Tabung Haji. It will mature on Dec 12,2023.

“The early full redemption of the sukuk Murabahah will reduce BHB’s obligation in view of the group reorganisation exercise, ” it said in a filing with Bursa Malaysia yesterday.