Alliance Bank plans up to RM2.5b sukuk programme

Alliance Bank said proceeds of the sukuk programmes would be utilised by Alliance Islamic for its shariah-compliant general banking, working capital and other corporate purposes. — File pic
Alliance Bank said proceeds of the programmes would be utilised by Alliance Islamic for its shariah-compliant general , working capital and other corporate purposes. — File pic

, March 13 — Alliance Islamic Bank Bhd, a wholly-owned unit of Alliance Bank Bhd (Alliance Bank), plans to undertake a perpetual sukuk programme of up to RM2.5 billion in nominal value and a RM300 million Islamic commercial papers (ICP) programme.

Alliance Bank said it lodged the two programmes with the Securities Commission today.

In a filing with Bursa Malaysia, the bank said the sukuk programme comprised a Senior Sukuk Murabahah of up to RM1.2 billion in nominal value; an Islamic Tier 2 Sukuk Murabahah of up to RM800 million in nominal value and an Islamic Additional Tier 1 Sukuk Wakalah of up to RM500 million in nominal value.

“The ICP programme is for the issuance of Sukuk Murabahah of up to RM300 million in nominal value,” it added.



Alliance Bank said proceeds of the sukuk programmes would be utilised by Alliance Islamic for its shariah-compliant general banking, working capital and other corporate purposes, including the refinancing of any financing incurred and/or any financing instruments issued by Alliance Islamic. — Bernama

Source: The Malay Mail Online





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