Bank Muamalat Malaysia Berhad ( BMMB ) on 15 June 2011 successfully issued its Tier 2 Capital Islamic Subordinated Sukuk of RM400 million ( Subordinated Sukuk ). The Subordinated Sukuk carries a tenure of 10 years from the issue date on a 10 non-callable 5 basis.
The Subordinated Sukuk, which is based on the Islamic principle of Musyarakah, is rated A3 by RAM Ratings Services Berhad. The rating outlook is stable. The Subordinated Sukuk was lead arranged by BMMB and Maybank Investment Bank Berhad and the issuance was done on private placement basis at a profit rate of 5.15 percent. (Press Release)