KUALA LUMPUR, Sept 8 – Co-opbank Pertama Malaysia Bhd (CBP) will be issuing a Structured Covered Sukuk of up to RM5 billion as one of the strategies to diversify its funding source to support the bank’s operations and fund its assets.
Its chief executive officer, Khairil Anuar Mohammad Anuar, said the sukuk issuance is one of the CBP’s strategies to ensure its financing cost remains stable and consistent.
In a statement on Friday, he said the sukuk is in the process of being approved by the Malaysia Cooperative Societies Commission, the CBP’s supervisory body, as well as the Securities Commission Malaysia.
CBP said it recently received a credit rating of A3/Stable/P2 from RAM Rating Services Bhd (RAM Ratings).
