Wednesday July 7, 2010

SC okays AMMB unit's RM3bil sukuk programme

PETALING JAYA: AMMB Holdings Bhd’s subsidiary AmIslamic Bank Bhd has received the approval of the Securities Commission (SC) for a RM3bil sukuk programme.

AMMB told Bursa Malaysia the senior sukuk musyarakah programme had a tenor of up to 30 years from the date of first issuance of the senior sukuk.

Each tranche of senior sukuk will be for a tenor of more than one year and up to 10 years, provided that no senior sukuk have a maturity date beyond the expiry of the senior sukuk musyarakah programme.

RAM Rating Services Bhd has assigned a long-term rating of AA3 to the sukuk programme.

AMMB : [Stock Watch] [News]

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