KUALA LUMPUR: Public Bank Bhd’s wholly-owned subsidiary, Public Islamic Bank, has issued the first tranche of Subordinated Sukuk Murabahah programme worth RM500 million. The issuance holds a tenure of up to 10 years with a coupon rate of 4.5 per cent per annum. It has been assigned the long-term rating of “AA1” by RAM Rating Services Bhd.
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