By Reshmi Basu
New York, Dec. 21 - AmIslamic Bank Bhd. said it placed RM 400 million of subordinated Sukuk Musyarakah tier II 10-year bonds via a private placement.
The issue was placed at par to bear a coupon of 4.80% for the first five years. After five years, the coupon will step up by 50 basis points.
Proceeds will be used for general working capital purposes and to fund the growth of its Islamic financial services business.
AmIslamic Bank is an Islamic bank based in Kuala Lumpur, Malaysia.
| Issuer: | AmIslamic Bank Bhd.
|
| Amount: | RM 400 million
|
| Maturity: | 2016
|
| Coupon: | 4.80%; steps up by 50 basis points after five years
|
| Issue price: | Par
|
| Pricing date: | Dec. 21
|
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