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
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
