KUALA LUMPUR: Bank Rakyat has successfully raised RM1 billion through the issuance of Islamic medium-term notes (IMTN) under its Senior Sukuk Wakalah programme, managed via special purpose vehicle Imtiaz Sukuk II Bhd.
The sukuk was issued through a book-building process on 24 April 2025 as part of a larger programme valued up to RM10 billion. The programme has been rated AA2 by RAM Rating Services Bhd.
According to the bank’s statement, the sukuk was offered in two tranches—RM120 million for a five-year note and RM880 million for a seven-year note. The issuance attracted strong investor interest, recording a final bid-to-cover ratio of 1.98 times.
Proceeds from the sukuk will be used for shariah-compliant purposes, including working capital, capital expenditure, general investments, financing, and other corporate needs.
Bank Muamalat Malaysia Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd, and RHB Investment Bank Bhd acted as joint lead managers for the transaction.
