Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on December 13, 2018

KUALA LUMPUR: BIMB Holdings Bhd (BIMB) has made an early partial redemption of RM609.94 million of a 10-year RM1.66 billion sukuk, which was issued at discount and fully subscribed by Lembaga Tabung Haji (TH).

The maturity date of the sukuk is Dec 12, 2023.

In a filing with Bursa Malaysia yesterday, BIMB said the move will reduce the group’s future payment obligations under the sukuk and is expected to have a positive impact on its future earnings.

BIMB said based on its current cash flow position, it has sufficient funds to make an early partial redemption under the sukuk.

BIMB had issued the sukuk on Dec 12, 2013.

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