Others

Apr 08, 2014 Back
Type Announcement
Subject OTHERS
Description Maybank Islamic Berhad’s Issuance of Basel III-compliant Tier 2 Capital Subordinated Sukuk Murabahah of RM1.5 billion in nominal value (“Subordinated Sukuk Murabahah”) pursuant to a Subordinated Sukuk Murabahah Programme of up to RM10.0 billion in nominal value (“Subordinated Sukuk Programme”)

Malayan Banking Berhad (“Maybank”) is pleased to announce that Maybank Islamic Berhad (“Maybank Islamic”), a wholly owned subsidiary of Maybank, has completed the issuance of RM1.5 billion Subordinated Sukuk Murabahah on 7 April 2014 pursuant to the Subordinated Sukuk Programme established in March 2014.

The approval from Bank Negara Malaysia (“BNM”) for the Subordinated Sukuk Programme was obtained on 19 December 2013 and the approval and authorisation from the Securities Commission Malaysia for the establishment of the Subordinated Sukuk Programme was obtained on 26 February 2014. 


The issuance details are summarized as follows:

(a)

Issuer

:

Maybank Islamic

(b)

Issue Date

:

7 April 2014

(c)

Nominal Amount

:

RM1,500,000,000.00 (Ringgit Malaysia One Billion Five Hundred Million)

(d)

Islamic principle

:

Murabahah (via Tawarruq arrangement)

(e)

Tenure

:

10 years on a 10 non-callable 5 basis

(f)

Maturity Date

:

5 April 2024

(g)

Call Date

:

First call date on 5 April 2019 and callable on every profit payment date thereafter

(h)

Profit Rate

:

4.75% per annum

(i)

Details on utilisation of proceeds

:

The proceeds will be used for Maybank Islamic’s business expansion programme, general banking, working capital and other Shariah compliant corporate purposes.

(j)

Rating 

:

AA1/stable (RAM Rating Services Berhad)

 

 

The Subordinated Sukuk Murabahah will qualify as Tier 2 capital of Maybank Islamic for the purpose of BNM’s Capital Adequacy Framework for Islamic Banks.


This announcement is dated 8 April 2014.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 8 Apr 2014  
Category General Announcement
Reference No MI-140408-63966