BIMB Holdings Bhd through its wholly-owned subsidiary, Bank Islam Malaysia Bhd had obtained approvals from Bank Negara Malaysia and the Securities Commission Malaysia to establish the third subordinated Sukuk Murabahah programme with the issuance of RM300 million.
In an exchange filing today, BIMB said the sukuk has tenure of a 10-year non-callable five years with maturity date on November 12, 2027.
BIMB noted the proceeds shall be utilised to finance Bank Islam’s Islamic banking activities, working capital requirements and other corporate purposes.