BUSINESS

RHB ISLAMIC BANK ISSUES RM500 MLN SUBORDINATED SUKUK MURABAHAH

15/05/2024 07:41 PM

KUALA LUMPUR, May 15 (Bernama) -- RHB Bank Bhd's wholly-owned subsidiary, RHB Islamic Bank Bhd, today issued subordinated Sukuk Murabahah of RM500 million in nominal value.

In a filing to Bursa Malaysia, RHB Bank said the subordinated Sukuk Murabahah, which is rated AA2/Stable by RAM Rating Services Bhd, is issued for a tenure of 10 years non-callable five years with a fixed profit rate of 4.00 per cent per annum, payable semi-annually in arrears throughout the entire tenure.

"The subordinated Sukuk Murabahah will qualify as Tier 2 capital of RHB Islamic Bank subject to compliance with the requirements as specified in the Capital Adequacy Framework for Islamic Banks (Capital Components) issued by Bank Negara Malaysia on Dec 15, 2023.

"Proceeds raised from the subordinated Sukuk Murabahah will be utilised for RHB Islamic Bank’s Shariah compliant working capital and general banking purposes," it said. 

-- BERNAMA

 

 


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