This perpetual non-call five-year sukuk has been assigned and reaffirmed a long-term rating of A3 by RAM Rating Services Bhd.
PETALING JAYA: Bank Islam Malaysia Bhd
has launched the second tranche of its additional Tier 1 capital sukuk wakalah, amounting to RM250mil, from its RM5bil sukuk wakalah programme.
This perpetual non-call five-year sukuk 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 general working capital requirements and other corporate purposes.
The sukuk wakalah qualifies as Tier 1 regulatory capital of Bank Islam in compliance with Bank Negara’s capital adequacy framework for Islamic banks.
Bank Islam is the principal adviser, lead arranger, lead manager and syariah adviser for the sukuk wakalah programme.
In the second quarter (2Q) ended June 30, 2024, Bank Islam recorded a net profit of RM137.17mil compared to RM136.14mil a year ago.
The bank’s 2Q revenue rose to RM1.15bil from RM1.12bil previously, while earnings per share stood at 6.05 sen.
