BIMB Holdings Berhad (“BHB”) is pleased to announce that its wholly owned subsidiary, Bank Islam Malaysia Berhad (“Bank Islam”) has issued the third (3rd) tranche of Subordinated Sukuk Murabahah amounting to RM700.0 million under the Sukuk Murabahah Programme. The details are as follows:-
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a)
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Issuer
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Bank Islam Malaysia Berhad
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b)
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Type
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Subordinated Sukuk Murabahah
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c)
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Nominal Amount
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RM700,000,000.00
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d)
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Issue Date
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21 October 2020
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e)
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Maturity Date
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21 October 2030
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f)
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Tenure
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10 years (non-callable 5 years)
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g)
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Rating
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A1/stable (RAM Rating Services Berhad)
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The Subordinated Sukuk Murabahah issued under the Sukuk Murabahah Programme shall qualify as Tier 2 regulatory capital of Bank Islam in compliance with Bank Negara Malaysia’s Capital Adequacy Framework for Islamic Banks (Capital Components). Hence, it will enhance the capital adequacy of the Bank in line with the Basel III requirements.
The Sukuk Murabahah Programme was lodged with the Securities Commission Malaysia on 6 September 2018. Under the Sukuk Murabahah Programme, Bank Islam is given the flexibility to issue Subordinated Sukuk Murabahah and/or Senior Sukuk Murabahah during the availability period of the Sukuk Murabahah Programme. RAM Rating Services Berhad has assigned a final long-term rating of ‘A1/stable’ and ‘AA3/stable’ to the Subordinated Sukuk Murabahah and Senior Sukuk Murabahah respectively under the Sukuk Murabahah Programme.
Bank Islam is also the Principal Adviser, Lead Arranger, Lead Manager and Shariah Adviser for the Sukuk Murabahah Programme.
This announcement is dated 21 October 2020.