By Marisa Wong
Madison, Wis., May 16 - Malaysia's RHB Capital Bhd. announced that its wholly owned indirect subsidiary, RHB Islamic Bank Bhd., issued RM 500 million of subordinated sukuk on Thursday.
The 10-year notes were issued with a 4.95% coupon and are non-callable for five years.
The sukuk, which qualify as tier 2 capital, were issued under RHB's RM 1 billion subordinated sukuk program.
Proceeds will be used for working capital and general banking purposes, including repayment of financing facilities and any subordinated sukuk.
RAM Rating Services Bhd. assigned a rating of AA3 to the issue.
RHB Capital is a Kuala Lumpur-based financing firm.
| Issuer: | RHB Islamic Bank Bhd.
|
| Issue: | Subordinated sukuk
|
| Amount: | RM 500 million
|
| Maturity: | 10 years
|
| Coupon: | 4.95%
|
| Call: | Non-callable for five years
|
| Settlement date: | May 15
|
| Rating: | RAM Rating Services: AA3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
