UOB Malaysia establishes inaugural Islamic debt programme

Tier 2 Sukuk Wakalah was given a fixed profit rate of 4.01% per annum.

UOB Malaysia has established its inaugural Islamic debt programme.

The programme allows up to RM5b to be raised in Malaysia under the Shariah principle of Wakalah Bi Al-Istithmar.

To start, UOB Malaysia successfully priced its debut Islamic debt, a RM500 million Basel III-compliant Tier 2 subordinated Islamic medium term note or Tier 2 Sukuk Wakalah. UOB Malaysia gave it a fixed profit rate of 4.01% per anuum, thanks to it being oversubscribed 3.39 times with a final order book of RM1.7b. This is due in February 2034 and callable in February 2029.

At 45 basis points above the benchmark Malaysian Government Securities (MGS), this was the tightest spread ever recorded for a Tier 2 capital instrument in the Ringgit-denominated market, UOB Malaysia said.

CIMB Investment Bank and UOB Malaysia acted as Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers for this transaction.

Follow the link for more news on

UOB

Also Read

Islamic finance to become a $6.7t industry by 2027: LSEG

APAC Islamic banks continue upward trajectory with lift from new players

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia