KUALA LUMPUR: Bank Islam Malaysia Bhd has today issued RM1.0 billion senior sukuk Murabahah under its RM10.0 billion sukuk Murabahah programme.
Bank Islam said the issuance received an overwhelming response from investors, with a bid-to-cover ratio of over 3.2 times the issuance size after the upsizing from RM500.0 million.
"The proceeds from the issuance will finance Bank Islam's banking activities, working capital requirements, and other corporate purposes. The use of proceeds under the sukuk Murabahah programme shall also be Shariah-compliant," it said in a statement.
With respective tenures of five and seven years, the sukuk Murabahah is rated AA3/stable by RAM Ratings Services Bhd.
It offers fixed profit rates of 4.01 per cent and 4.13 per cent per annum.