KUALA LUMPUR: RHB Bank Bhd, via its wholly owned subsidiary RHB Islamic Bank Bhd, has successfully completed its first RM300 million senior sukuk wakalah issuance. This issuance forms part of a broader multi-currency sukuk wakalah programme with a total nominal value of up to RM5 billion.
In a filing with Bursa Malaysia, the bank stated that the sukuk has received an AA1 rating with a stable outlook from RAM Rating Services Bhd. The sukuk has a tenure of five years and offers a fixed periodic distribution rate of 3.79% per annum, with payments made semi-annually in arrears.
The bank added that the proceeds raised from this issuance will be used to support Shariah-compliant working capital needs, fund general banking operations, and refinance existing Islamic financing facilities or other Shariah-compliant capital instruments.