RHB unit issues RM500mil Islamic bonds

KUALA LUMPUR: RHB Bank Bhd’s wholly-owned subsidiary RHB Islamic Bank Bhd has issued subordinated sukuk murabahah worth RM500mil in nominal value.

In a filing with Bursa Malaysia, RHB Bank said the sukuk, rated AA2/Stable by RAM Rating Services Bhd, is issued for a tenure of 10 years non-callable five years with a fixed profit rate of 4% per annum, payable semi-annually in arrears throughout the entire tenure.