futures.tradingcharts.com - Indonesia-based Islamic Sharia-compliant lender PT Bank Muamalat is set
to place an IDR800bn (USD84.7m/EUR67.5m) sukuk in the third week of
June, The Jakarta Post reported on Tuesday.
The deal falls within the bank's strategy to beef up its financial
resources with IDR1.5trn capital. Bank Muamalat aims to reach the target
by raising the remaining IDR700bn by the first half of next year, the
paper said.
(source)
According to the lender's compliance and risk management director, Andi
Buchari, the Islamic instrument to be launched in June could be
subscribed in full and priced to yield 9% amid expectations for more
favourable market conditions.
Bank Muamalat had previously unveiled plans to tap the debt market in
June via an issue of IDR800bn shelf-registered Sharia subordinated
bonds, with a 10-year maturity and callable at the fifth year. The
lender had said that its stockholders would invest in the issue, for
which PT Bahana Securities is lead underwriter.
Bank Muamalat was set up in 1991 and is headquartered in Jakarta,
Indonesia. It has operations also in Malaysia.
The bank's net profit grew by 25.16% on the year to IDR86.9bn in the
first quarter of 2012.
Source: http://futures.tradingcharts.com/news/futures/Bank_Muamalat_gears_up_for_Islamic_debt_issue_in_third_week_of_June_179422283.html - May 29, 2012
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