RHB Subsidiary Issues RM250 Million Sukuk Murabahah

RHB Bank Berhad’s wholly-owned subsidiary, RHB Islamic Bank, had successfully, issued the subordinated Sukuk Murabahah of RM250 million in nominal value.

The Subordinated Sukuk Murabahah, rated AA3 by RAM Rating Services Berhad, is issued for a tenure of 10 years non-callable 5 years with a fixed profit rate of 4.06% per annum, payable semi-annually in arrears throughout the entire tenure.

The Subordinated Sukuk Murabahah will qualify as Tier 2 capital of RHB Islamic Bank subject to compliance with the requirements as specified in the Capital Adequacy Framework for Islamic Banks (Capital Components) issued by Bank Negara Malaysia.

Proceeds raised from the Subordinated Sukuk Murabahah will be utilised for RHB Islamic Bank’s Shariah compliant working capital and general banking purposes.

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