PETALING JAYA: Malayan Banking Bhd
(Maybank) has completed the issuance of RM4.8bil in aggregate nominal value of tier-two subordinated sukuk murabahah under its RM30bil sukuk programme.
The issuance, completed yesterday, comprises four series with maturities ranging from 10 to 17 years.
The RM400mil Series 017 carries an initial profit rate of 4.05%, while the RM1.8bil Series 018, RM1.2bil Series 019 and RM1.4bil Series 020 carry rates of 4.17%, 4.23% and 4.33%, respectively.
The sukuk has been accorded a rating of AA1 with a “stable” outlook by RAM Rating Services Bhd and will qualify as tier-two capital under Bank Negara Malaysia’s Capital Adequacy Framework.
Maybank said proceeds will be used for syariah-compliant investments in ringgit and foreign-currency Islamic financial instruments, funding Islamic business activities of its subsidiaries and overseas branches, as well as other syariah-compliant business activities. Profit payments will be made semi-annually.
