AmInvestment Bank is Joint Lead Manager for Bank Pembangunan Malaysia Berhad’s RM1.5 Billion Islamic Medium Term Note (“MTN”) Issuance
Pictured: Raja Teh Maimunah, CEO, AmInvestment Bank Berhad
AmInvestment Bank Berhad is pleased to announce that Bank Pembangunan Malaysia Berhad (“BPMB”) has on 2 March successfully completed the issuance of RM1.5 billion AAA-rated Murabahah Islamic Medium Term Notes (“Murabahah MTNs”).
BPMB is mandated as a development financial institution providing medium to long term financing to the infrastructure, maritime, technology and oil and gas sectors. BPMB is wholly owned by the Malaysian Government through the Minister of Finance (Incorporated). The Murabahah MTNs are rated AAA by RAM Rating Services Berhad.
The notes have tenors of 5, 10 and 15 years and final pricing for the notes range from 4.28% to 4.98%. The one day book-building exercise on 22 February 2017 was oversubscribed by more than three (3) times. Overwhelming demand allowed the Lead Managers to drive the price for the 15 year tranche down to successfully close below 5.00%, at the lower end of the price guidance.
The Lead Managers for the transaction are AmInvestment Bank Berhad, CIMB Investment Bank Berhad and RHB Investment Bank Berhad.