BIMB Holdings Makes Early Full Redemption Of RM1.66 Bln Sukuk Murabahah

KUALA LUMPUR, June 3 (Bernama) -- BIMB Holdings Bhd (BHB), in a prelude to the reorganisation of the group, is making an early full redemption of the RM1.05 billion Sukuk Murabahah Thursday which is equivalent to a redemption sum of RM988.4 million. In a filing with Bursa Malaysia today, the group said the early full redemption of the Sukuk Murabahah will reduce BHB’s obligation in view of the group reorganisation exercise. To recap, BHB had, on Dec 12, 2013, issued a 10-year unrated Islamic Securities of Nominal Value of RM1.66 billion under the Shariah principle of Murabahah. The Sukuk Murabahah was issued at a discount and fully subscribed by Lembaga Tabung Haji and will mature on Dec 12, 2023, it added. -- BERNAMA