Bank CIMB Niaga’s IDR 1 Trillion Mudharabah Sukuk Phase III to be Listed on IDX

Bank CIMB Niaga Sustainable Sukuk (Mudharabah) Phase III will be listed on the Indonesia Stock Exchange (IDX) on the 30th of March 2020, according to an announcement by the IDX.

According to the IslamicMarkets Sukuk Monitor, this Sukuk is expected to be issued under three different series to raise total IDR 1 trillion aimed at supporting the Shariah financing activities of the bank.

The three tranches of this Sukuk (Series A, Series B and Series C) will be issued at a price of IDR 100 with respective tenures of 370 days, 3 years and 5 years, and will carry profit rates of 5.80%, 7.00%, and 7.25% respectively.

The IDX stated that this Sukuk has...