Bank Pembangunan Malaysia Berhad (BPMB) announced the successful pricing of its RM 1.0 billion AAA-rated Sustainable Development Goals Islamic medium-term notes under the Shariah principle of Wakalah bi al-Istithmar (SDG Sukuk Wakalah).
The SDG Sukuk Wakalah was priced on 22 November 2023, through a book-building exercise with a 2.43 times bid-to-cover, supported by asset management firms, banks, government-linked funds and insurance / takaful companies.
The public auction ensured full price transparency, contributing to the tightening of pricing and ultimately solidifying the success of the SDG Sukuk Wakalah issuance.
Roni Abdul Wahab, the CEO of BPMB, reflected on the milestone, stating, “This successful issuance further solidifies our commitment to sustainable finance. As a Development Financial Institution (DFI), our focus is to deliver impact capital to support the nation’s strategic and sustainable development.
At BPMB we prioritise projects aligned with selected United Nations’ Sustainable Development Goals (SDGs) by using our Measuring Impact on National Development (MIND) framework, jointly developed with the World Bank Group that enables us to assess each project’s socioeconomic and environmental impact.”
The Joint Lead Managers for the SDG Sukuk Wakalah were AmInvestment Bank Berhad, CIMB Investment Bank Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad.
The Sukuk Wakalah is expected to be issued on 1 December 2023.
