Maybank Completes Issuance of MYR 3 Billion Tier 2 Subordinated Sukuk Murabahah

Malayan Banking (Maybank) has completed the issuance of Tier 2 subordinated Sukuk Murabahah valued at MYR 3 billion, according to a filing with Bursa Malaysia on the 9th of October 2020.

The Sukuk Murabahah, which were rated AA1 by RAM Ratings, is made up of two tenures; a ten-year tenure with a nominal value of MYR 2.3 billion and a profit rate of 2.9% per annum, as well as a 12-year tenure valued at MYR 700 million with a 3.1% profit rate per annum, according to local media reports.

Proceeds from the Sukuk Murabahah will be used for Shariah-compliant purposes, including funding Maybank’s investments in MYR-denominated and foreign currency-denominated Islamic financial instr...