General Announcement for PLC

28/07/2022

OTHERS Issuance of RM500 Million Nominal Value of Subordinated Sukuk Murabahah under a Sukuk Murabahah Programme for the Issuance of Senior Sukuk Murabahah and/or Subordinated Sukuk Murabahah (Collectively, "Sukuk Murabahah") of up to RM5.0 Billion in Nominal Value ("Sukuk Murabahah Programme") by Public Islamic Bank Berhad (a Wholly-Owned Subsidiary of Public Bank Berhad)

PUBLIC BANK BERHAD

Type Announcement
Subject OTHERS
Description 
Issuance of RM500 Million Nominal Value of Subordinated Sukuk Murabahah under a Sukuk Murabahah Programme for the Issuance of Senior Sukuk Murabahah and/or Subordinated Sukuk Murabahah (Collectively, "Sukuk Murabahah") of up to RM5.0 Billion in Nominal Value ("Sukuk Murabahah Programme") by Public Islamic Bank Berhad (a Wholly-Owned Subsidiary of Public Bank Berhad)

Public Bank Berhad (“PBB”) had on 23 April 2014, announced that its wholly-owned subsidiary, Public Islamic Bank Berhad (“PIBB”), had obtained approvals from Bank Negara Malaysia and the Securities Commission to establish the Sukuk Murabahah Programme.

 

PBB is pleased to announce that PIBB has issued the fourth (4th) tranche of the Subordinated Sukuk Murabahah amounting to RM500 million under the Sukuk Murabahah Programme. The details are as follows:

 

a)

Issuer

:

Public Islamic Bank Berhad

b)

Sukuk

:

Subordinated Sukuk Murabahah

c)

Issue Date

:

28 July 2022

d)

Nominal Amount

:

RM500,000,000.00

e)

Tenure

:

10 years non-callable 5 years

f)

Maturity Date

:

28 July 2032

g)

Call Date

:

28 July 2027

h)

Coupon/Profit Rate

:

4.40% per annum

i)

Details on Utilisation of Proceeds

:

The proceeds of the Subordinated Sukuk Murabahah shall be made available to PIBB, without limitation, for its working capital, general banking and other corporate purposes, all of which shall be Shariah-compliant.

j)

Rating

:

RAM Rating Services Berhad has assigned a final long-term rating of AA1 to the Subordinated Sukuk Murabahah under the Sukuk Murabahah Programme.

The proceeds of the Subordinated Sukuk Murabahah issued under the Sukuk Murabahah Programme will qualify as Tier 2 regulatory capital for PIBB as well as PBB and its subsidiaries in accordance to the Capital Adequacy Framework for Islamic Banks (Capital Components) issued by Bank Negara Malaysia.

 

This announcement is dated 28 July 2022.



Announcement Info

Company Name PUBLIC BANK BERHAD
Stock Name PBBANK
Date Announced 28 Jul 2022
Category General Announcement for PLC
Reference Number GA1-27072022-00045


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