KUALA LUMPUR: Bank Islam Malaysia Bhd has successfully launched the second tranche of additional tier 1 capital sukuk wakalah from its RM5bil sukuk wakalah programme amounting to RM250mil perpetual non-call five years.
It said in a statement the sukuk wakalah programme has been assigned and reaffirmed a long-term rating of A3 by RAM Rating Services Bhd.
Proceeds from the Sukuk Wakalah will be utilised to finance the bank's general working capital requirements and/or other general corporate purposes.
The sukuk wakalah shall qualify as the Tier 1 regulatory capital of Bank Islam in compliance with Bank Negara Malaysia’s Capital Adequacy Framework for Islamic Banks (Capital Components).
Bank Islam is the principal adviser, lead arranger, lead manager and shariah adviser for the sukuk wakalah programme.
