Bank Rakyat issues US$326.55 million Sukuk (By IFN)

Wednesday 21^st November 2012

MALAYSIA: Bank Kerjasama Rakyat Malaysia (Bank Rakyat), a co-operative, launched a RM1 billion (US$326.55 million) Islamic medium-term notes program on the 20^th November 2012, in its maiden debt offering as it looks to raise capital in line with Basel III requirements.

The offering, which will be issued on the 23^rd November, comprises two tranches worth RM300 million (US$97.97 million) and RM700 million (US$228.59 million) with maturities of three and five years, respectively.

See: http://www.islamicfinancenews.com/