Bank Pembangunan Malaysia Berhad has announced a successful book-building exercise for the issuance of RM1.25 billion Sukuk Wakalah.
The positive response from investors is a testament to BPMB’s strong credit profile and strategic role in nation building. BPMB surpassed its initial target issue size of RM750 million and registered a final order book of RM3.34 billion translating into a total bid-to-cover (“BTC”) of 4.45 times (pre-upsizing) and 2.67 times (post-upsizing).
BPMB President/Group Chief Executive Officer, Arshad Mohamed Ismail said, “Following the successful second issuance under our Sukuk Wakalah Programme, we at BPMB are honoured by the market confidence in our strong fundamentals and strategic direction. We will continue to work hard in driving inclusive and sustainable growth to support the nation building agenda.”
Ambank, CIMB, Maybank, and RHB acted as Joint Lead Managers on this offering and both CIMB Islamic and Maybank Islamic acted as Shariah Advisors for the transaction.
“Diversified support from varied investors including financial institutions, asset managers, pension funds and insurance companies was reflective of the general market’s positive sentiment towards BPMB’s credit,” he added.
In line with its aspiration to fulfil the development needs of the country, BPMB embarked on a paradigm shift – the Bank implemented the “MIND: Measuring Impact on National Development” framework and is now focused on both financial and non-financial impact indicators.
Using MIND, BPMB’s projects are assessed based on their financial and also social or environmental impact. Financing decisions are supported by how projects score on the scale. Being sector agnostic and impact driven, BPMB has broadened its focus beyond
traditional sectors and expanded into broad economic themes that encompass sustainability, digitalisation and inclusivity.
Utilising the Bank’s government mandated incentive schemes, BPMB seeks to drive and expand sustainable development in targeted areas in efforts to continuously play a key role in facilitating Malaysia achieve developed and high income nation