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Public Islamic Bank issues 500M ringgit of Islamic bonds

Public Islamic Bank Bhd. issued 500 million Malaysian ringgit worth of subordinated Islamic bonds.

The subordinated sukuk murabahah, which will mature Aug. 3, 2027, have a call date of Aug. 3, 2022 and a coupon rate of 4.65% per year, the bank said Aug. 3.

Proceeds from the bonds will be used for the bank's general working capital, general banking and other corporate purposes.

As of Aug. 3, US$1 was equivalent to 4.28 Malaysian ringgit.