Bank Rakyat has successfully issued RM2.0 billion Islamic Medium-Term Notes (IMTN) Sukuk Wakalah through its special purpose vehicle, Imtiaz Sukuk II Bhd, under its Senior Sukuk Wakalah Programme of up to RM10 billion.
In a statement, the bank said the issuance was carried out through a book-building exercise on April 28, 2026, with the programme receiving an AA2 rating from RAM Rating Services Bhd, reflecting its strong credit standing.
The sukuk issuance comprised five tranches with maturities ranging between three and seven years, providing investors with a range of tenure options aligned with different risk and return preferences.
According to Bank Rakyat, strong investor appetite led to the issuance being upsized to RM2.0 billion, supported by healthy participation from institutional investors.
The bank said the Senior Sukuk Wakalah programme recorded encouraging demand, achieving a final bid-to-cover ratio of 1.16 times the total issue size, signalling continued confidence in Bank Rakyat’s financial position and Islamic financing instruments.
“The issuance received overwhelming investor demand, resulting in the upsizing of the programme to RM2.0 billion,” the bank said.
Bank Rakyat noted that proceeds raised from the sukuk issuance will be utilised for Shariah-compliant purposes, including working capital requirements, capital expenditure, financing activities, general investments, and other corporate purposes.
The bank said the issuance forms part of its broader strategy to strengthen funding capabilities and support ongoing business growth while maintaining compliance with Islamic finance principles.
Bank Rakyat also announced that Bank Muamalat Malaysia Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd, and RHB Investment Bank Bhd were appointed as joint lead managers for the Sukuk Wakalah programme.
The issuance reinforces Bank Rakyat’s position in the Islamic capital market and highlights continued investor interest in sukuk instruments amid evolving market conditions.
