Bank Islam 4.35% Additional Tier 1 Perpetual Sukuk
MYBMX2300890 · Finance
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AA-MurabahahMYR🏦 Finance
Bank Islam 4.35% Additional Tier 1 Perpetual Sukuk
Issued by Bank Islam Malaysia Berhad
Current Yield
4.72%
+0.32% vs issuance
Coupon Rate
4.35%
at issuance 4.40%
Maturity
7.2yr
20 May 2033
Face Value
MYR 600M
2.1x oversubscribed
Issuance Details
- ISIN
- MYBMX2300890
- Structure
- Murabahah
- Issuance Date
- 20 May 2023
- Maturity Date
- 20 May 2033
- Tenor
- 10 years
- Status
- Active
- Lead Arranger
- CIMB Investment Bank
- Trustee
- Amanah Raya Berhad
Ratings
RAM
Stable outlook
Rated 05 May 2023
Use of Proceeds
Additional Tier 1 (AT1) capital issuance for regulatory capital optimisation.
Plain-Language Summary
AI-ReadyAT1 capital sukuk by Bank Islam. Though classified as Tier 1 capital, it has a 10-year call date. The sukuk is Murabahah-structured and subordinated to senior obligations. Distributions can be cancelled at the issuer's discretion. Investors receive a higher yield premium to compensate for the additional risk features.