KUALA LUMPUR, Oct 18 — Affin Islamic Bank Bhd, a wholly-owned subsidiary of Affin Bank Bhd, has issued a RM300 million AT1 Sukuk Wakalah under its sukuk programme.

In a filing with Bursa Malaysia today, Affin Bank said the AT1 Sukuk Wakalah would have a perpetual tenure on a non-callable five-year basis, and has been assigned a long-term rating of A3 by RAM Rating Services Bhd.

It said the sukuk programme would give Affin Islamic the flexibility to raise funds via the issuance of Senior Sukuk Murabahah, Tier 2 Sukuk Murabahah and/or AT1 Sukuk Wakalah from time to time.

The proceeds would be utilised for general banking working capital requirements and business purposes of Affin Islamic, which would be Shariah compliant.

Affin Hwang Investment Bank Bhd is the principal adviser, lead arranger and manager for the sukuk programme. — Bernama