KUALA LUMPUR – Bank Islam Malaysia Bhd’s (BIMB) fourth tranche of subordinated sukuk murabahah amounting to RM300 million, issued on November 12 this year, has received a positive response with orders being 2.32 times more than the issuance and a final pricing of 4.1%.
BIMB group chief executive officer Mohd Muazzam Mohamed said proceeds from the issuance will ensure BIMB is adequately capitalised beyond the minimum regulatory capital requirements.
“The measure will further fortify our efforts to provide value to our customers, as we embark on a new chapter for BIMB as a pure-play full-fledged Islamic bank listed in Bursa Malaysia.
“We thank investors for their trust and confidence in BIMB as we move to an exciting future and catalyse the growth of the Islamic banking industry,” he said in a statement today.
Muazzam said the subordinated sukuk murabahah was issued under the Sukuk Murabahah Programme lodged with the Securities Commission on September 6, 2018.
The programme issued its first tranche of RM300 million on November 2018, the second tranche of RM400 million on March last year, followed by the third tranche of RM700 million on October last year.
BIMB is also the principal adviser, lead arranger, lead manager, and Shariah adviser for the Sukuk Murabahah Programme. – Bernama, November 14, 2021
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