KUALA LUMPUR: Bank Rakyat has successfully issued a RM1 billion Islamic medium-term notes (IMTN) sukuk wakalah via special purpose vehicle (SPV) Imtiaz Sukuk II Bhd.
The issuance was made through the book-building process on April 24, 2025 under the senior sukuk wakalah programme of up to RM10 billion, which has been assigned a rating of AA2 by RAM Rating Services Bhd.
Bank Rakyat said in a statement that the issuance was made in two tranches, comprising RM120 million for a five-year tranche and RM880 million for a seven-year tranche.
"The bank also managed to garner a respectable demand for its senior sukuk wakalah with a final bid-to-cover ratio of 1.98 times the final issue size,” it added.
The proceeds from the senior sukuk wakalah issued will be utilised for shariah-compliant purposes, which include working capital requirements, capital expenditure, general investments, providing financing and other general corporate purposes.
Bank Muamalat Malaysia Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd have been appointed as the joint lead managers for the sukuk wakalah programme. - Bernama
