BSN’s maiden sukuk wakalah issuance sees oversubscription

Bank Simpanan Nasional’s (BSN) debuted into the capital markets according to its RM750 million Sukuk Wakalah under its recently established Sukuk Wakalah Programme of up to RM3.5 billion in nominal value. It received an overwhelming response from investors, marking another milestone as this was the bank’s maiden issuance in the capital markets. The offering was successfully priced at RM750 million on 7 October 2021 due to the robust response of investors. The programme has been assigned a final rating of AAA by RAM Rating Services Bhd with proceeds being utilised for the Bank’s Shariah-compliant financing activities and other corporate purposes.