RHB Bank to issue senior sukuk to raise up to RM10b

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KUALA LUMPUR (Sept 11): RHB Bank Bhd plans to issue up to RM10 billion in senior sukuk murabahah, which will be in multi currencies including the ringgit.

The Sukuk Murabahah Programme was lodged with the Securities Commission Malaysia today, RHB said in a filing with Bursa Malaysia.

The group said the proceeds raised from the sukuk will be used within RHB Bank's group of companies for its working capital and general banking purposes of Islamic business activity.

It will also be used for the refinancing and redemption of Islamic financing facilities for Islamic business purposes.

Shares in RHB Bank closed seven sen or 1.49% lower at RM4.63 today, valuing the group at RM18.57 billion. Year-to-date, the counter has fallen by 19.9% from RM5.78.

S Kanagaraju