Breadcrumb

Asset Publisher

null Public Bank unit issues RM500m sukuk as fourth tranche of RM5b Islamic bond programme

news

Public Bank unit issues RM500m sukuk as fourth tranche of RM5b Islamic bond programme

29 Jul 2022 | Friday Source: The Edge Markets

Public Bank Bhd’s wholly-owned subsidiary Public Islamic Bank Bhd (PIBB) issued subordinated Sukuk Murabahah amounting to RM500 million in nominal value on Thursday (July 28).

The issuance is the fourth tranche of its subordinated Sukuk Murabahah programme of up to RM5 billion in nominal value, and carries a tenure of 10 years non-callable five years, with a maturity date of July 28, 2032, and an annual return of 4.4%, according to the bank’s bourse filing on Thursday.

The bank noted that RAM Rating Services Bhd has assigned a final long-term rating of AA1 to the subordinated Sukuk Murabahah under the programme.

“The proceeds of the subordinated Sukuk Murabahah shall be made available to PIBB, without limitation, for its working capital, general banking and other corporate purposes, all of which shall be Shariah-compliant.

Read more here