CIMB Bank Issuing USD 3.5 Billion Worth of Islamic Bonds Under Sukuk Wakalah Programme

Malaysia-based CIMB Bank is issuing MYR 15 billion (USD 3.5 billion) worth of Islamic bonds under the Sukuk Wakalah programme. This was stated in a filing with the Securities Commission Malaysia (SC) by CIMB Bank.

Why it Matters?

RAM Rating Services (RAM Ratings) has assigned CIMB Bank a financial institution rating of AAA/Stable/P1. On CIMB Bank's proposed MYR 15 billion (USD 3.5 billion) Sukuk Wakalah programme, RAM Ratings had assigned an AAA/Stable rating for the scheme’s senior Sukuk.

Details

CIMB Group Holdings indirectly owns 99.99% of CIMB Bank. CIMB Investment Bank has been appointed as the principal adviser for the issuance. The expiry date of the Islamic bonds’ lodgement with the SC is on...