Maybank is pleased to announce that Maybank Islamic Berhad (“MIB”), a wholly owned subsidiary of Maybank, has successfully completed the issuance of RM1.0 billion Tier 2 Capital Islamic Subordinated Sukuk on 31 March 2011. 

Approval for the issuance of the Subordinated Sukuk was obtained from the Securities Commission on 25 February 2011.  

The Subordinated Sukuk which is based on the Islamic principle of Musyarakah, is rated AA+ (outlook stable) by Malaysian Rating Corporation Berhad (MARC) and carries a tenure of 10 years from the issue date on a 10 non-callable 5 basis and qualifies as Tier 2 capital for the purpose of Malaysian capital adequacy regulation. 

The proceeds from the issue will be used for MIB’s working capital, general banking, business expansion programme and other corporate purposes. 

This announcement is dated 31 March 2011.