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Maybank issues 2.8B ringgit of Islamic bonds

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Maybank issues 2.8B ringgit of Islamic bonds

Malayan Banking Bhd., also known as Maybank, issued 2.8 billion ringgit of perpetual additional Tier 1 Islamic bonds, or sukuk.

The bank issued 1.24 billion of Islamic bonds with an interest rate of 4.08% per year and 1.56 billion of Islamic bonds priced with an coupon of 4.13% per year, according to a Sept. 25 release.

As of Sept. 25, US$1 was equivalent to 4.19 Malaysian ringgit.