IslamicFinance.de

#Malaysian Danajamin Nasional has issued its inaugural RM500 million, tier-2 subordinated sukuk. It is part of a RM2 billion of senior and subordinated Sukuk Murabahah facility. The subordinated sukuk has a tenure of 10 years and is rated AA1 by RAM Rating Services and AA+ by the Malaysian Rating Corporation. The inaugural issue was oversubscribed, receiving a response of about RM800 million from a diverse range of investors. Danajamin CEO Mohamed Nazri Omar said that a total of 16 investors participated in the inaugural issuance and the sukuk achieved a yield of 4.80%. The issuance also sees Danajamin strengthening its regulatory capital level, enabling it to continue meeting its developmental mandate to stimulate the sukuk market.