KUALA LUMPUR: Bank Islam Malaysia Bhd (BIMB) has issued RM1bil senior sukuk murabahah under its RM10bil sukuk murabahah programme in nominal value.
The bank said in a statement the issuance of the senior sukuk murabahah received an overwhelming response from investors, with a bid-to-cover ratio of over 3.2 times the issuance size after the upsizing from RM500mil.
“The proceeds from this issuance will finance BIMB’s banking activities, working capital requirements and other corporate purposes.
“The use of proceeds under the sukuk murabahah programme shall also be syariah-compliant,” it said.
The sukuk murabahah, rated AA3/stable by RAM Ratings Services Bhd, offers fixed profit rates of 4.01% and 4.13% per annum, with respective tenures of five and seven years.
