RHB Bank Completes First Issuance of Senior Sukuk Murabahah Worth MYR 300 Million

RHB Bank has completed its first issuance of Senior Sukuk Murabahah worth MYR 300 million in nominal value under its Sukuk Murabahah Programme of up to MYR 10 billion, according to a filing with Bursa Malaysia released on the 20th of October 2020.

The Senior Sukuk Murabahah, rated AA2/Stable by RAM Rating Services, were issued for a five-year tenure with a fixed profit rate of 2.85% per annum, to be paid semi-annually in arrears. According to the bourse filing, proceeds raised from the Senior Sukuk Murabahah will be used for the working capital of RHB Bank’s subsidiary company in Islamic business activities.

Earlier in September 2020, RHB Bank had lodged the Sukuk Murabahah P...