KUALA LUMPUR, Sept 7 (Bernama) -- Bank Muamalat Malaysia Bhd and Standard Chartered Saadiq Bhd (Saadiq) have acted as joint principal advisers, lead arrangers and lead managers for Padiberas Nasional Bhd's (Bernas) sukuk.
In a joint statement here today, they said the sukuk involved the issuance of RM750 million Islamic Islamic commercial papers/medium-term notes (ICP/MTN) programme. "The sukuk issuance marks a significant milestone for both Islamic banks as it is the first time Bernas is tapping the sukuk market for its funding," it said.
The ICP/MTN programme has been asigned respective long- and short-term ratings of 'AA3' and 'P1' with stable outlook by RAM Ratings Services Bhd. Bernas managing director, Bakry Hamzah, said the sukuk was an important source of financing for large-scale investment projects and played a key role in facilitating the economic development process of Bernas.
"The RM750 million will be used for working capital purposes as well as to finance Bernas' current and future investments while enabling Bernas to focus more on business and market expansion," he said.
Bank Muamalat chief executive officer (CEO), Datuk Mohd Redza Shah, said with the improving economy and corporate performance, the bank would continue to participate in more corporate issues. "Bank Muamalat is committed towards making Malaysia the hub of Islamic finance, supporting the government and corporate issuers," he said.
Saadiq CEO, Azrulnizam Abdul Aziz, said the bank was delighted to put together the sukuk for Bernas which would meet its key financing requirements in this challenging environment. -- BERNAMAAny source
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