KUALA LUMPUR: AmIslamic Bank Bhd has successfully issued RM550.0 million senior Sukuk under its newly established 30-year RM3.0 billion senior Sukuk Musyarakah programme.
AmIslamic Bank said on Monday, Sept 20 the programme will enable it to tap the capital markets for long-dated funding and improve its asset-liability management, thereby mitigating liquidity and interest rate risks.
'The senior Sukuk issuance has a tenure of seven years and carries a semi-annual profit rate of 4.30% per annum. The new issue was placed out to a broad range of investors including fund managers, insurance companies, financial institutions and government agencies,' it said.
RAM Rating Services Bhd has assigned a long term rating of AA3.
AmIslamic Bank said on Monday, Sept 20 the programme will enable it to tap the capital markets for long-dated funding and improve its asset-liability management, thereby mitigating liquidity and interest rate risks.
'The senior Sukuk issuance has a tenure of seven years and carries a semi-annual profit rate of 4.30% per annum. The new issue was placed out to a broad range of investors including fund managers, insurance companies, financial institutions and government agencies,' it said.
RAM Rating Services Bhd has assigned a long term rating of AA3.
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