Affin Bank Bhd’s wholly owned subsidiary Affin Islamic Bank Bhd has issued T2 sukuk murabahah with a nominal value of RM800 million under the Islamic Medium-Term Notes Programme.
In an exchange filing yesterday, the bank said the tenure of the T2 sukuk murabahah issued is 10 years on a non-callable five-year basis. In addition, the T2 sukuk murabahah has been assigned a long-term rating of A1 by RAM Rating Services Bhd.
The T2 sukuk murabahah will qualify as Basel III-compliant Tier 2 capital of Affin Islamic, in accordance with the Capital Adequacy Framework for Islamic Banks (Capital Components) issued on Feb 2, 2018, by Bank Negara Malaysia.
The T2 sukuk murabahah is fully subscribed by Affin Bank. — TMR