Proposed Issuance Of 10 Non-callable 5 Year Islamic Subordinated Sukuk ("USD Sukuk")

Apr 11, 2007 Back
Type Announcement
Subject PROPOSED ISSUANCE OF 10 NON-CALLABLE 5 YEAR ISLAMIC SUBORDINATED SUKUK ("USD Sukuk")

Contents :

Aseambankers Malaysia Berhad (“Aseambankers”) on behalf of the Board of Directors of Malayan Banking Berhad (“Maybank”) is pleased to announce that Bank Negara Malaysia has approved vide its letter dated 10th April 2007 the issuance of the USD denominated 10 Non-Callable 5 year Islamic Subordinated Sukuk. Maybank has mandated Aseambankers, The Hongkong and Shanghai Banking Corporation Limited, Offshore Banking Unit, Labuan and UBS AG, Labuan Branch as joint bookrunners and joint lead managers for the proposed issuance of the USD Sukuk. This innovative offering will represent the first international Islamic subordinated issue in the world.


The issuer will be MBB Sukuk Inc., a special purpose vehicle incorporated in Labuan to issue the USD Sukuk amounting to USD300 million. The USD Sukuk will be rated by Moody’s Investors Service, Standard and Poor's and Fitch Ratings. The USD Sukuk will be classified as Tier-2 capital for the purpose of Risk Weighted Capital Ratio computation. Approval from the Labuan Offshore Financial Services Authority (“LOFSA”) on the proposed issuance of the USD Sukuk was also obtained on the 10th April 2007.

This announcement is dated 11 April 2007

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 11 Apr 2007  
Category General Announcement
Reference No CU-070411-67618