www.thejakartapost.com - PT Bank Muamalat, one of the country’s major sharia banks, will issue Islamic bonds (sukuk) worth Rp 800 billion (US$84.8 million) in the third week of June.
Muamalat’s
compliance and risk management director Andi Buchari told reporters on
Monday he hoped the financial market would be bullish again later next
month so that the new sukuk would be fully subscribed by investors.
“We are still confident about the market demand for our sukuk,” Buchari said, hoping that it could be priced with a yield of 9 percent. (source)
The
Rp 800 billion offering is a part of Muamalat’s plan to raise Rp 1.5
trillion to strengthen its financing resources. The remaining Rp 700
billion is scheduled to be floated later this year or in the first
semester of 2013.
By the end of this year, Muamalat expects to
channel Rp 32.4 trillion in financing, up about 44 percent from last
year’s funding of Rp 22.47 trillion.
By the end of 2011, Bank
Muamalat—Indonesia’s first whole-sharia bank and the only Indonesian
bank to operate a full branch network in Malaysia—had Rp 32.48 trillion
in total assets and Rp 26.66 trillion in third party funds.
Source: http://www.thejakartapost.com/news/2012/05/28/muamalat-s-sukuk-be-launched-third-week-june.html - May 28, 2012
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