DRB-HICOM Berhad
Indicative
Full Lot
Indicative price as of 05 Oct 2026, 3:52pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Sukuk Issuer
DRB-HICOM Berhad
Guarantor
-
Announcement Date
12 Aug 2022
Issue Date
26 Aug 2022
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.888
Modified Duration
0.853 @ 05 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
6.750
Distribution Type
Variable
Annual Distribution Rate
6.750
Distribution Frequency
Semi Annually
Seniority
Subordinated
Reference Rate
Reset Date: 26 Aug 2027 and every 5 years there after,
Reset Rate: 5-Year MGS + Initial Credit Spread (2.982%) +
step-up (one time step- up 1.00%)
ISIN
MYBPZ2200114
CUSIP
BY5281963
Sukuk Currency
MYR
Total Issue Size
350,000,000
Min. Investment Quantity (Nominal)
MYR 1,000
Incremental Quantity (Nominal)
MYR 1,000
Sukuk Type
High Yield Corporate
Sukuk Sector
Consumer Discretionary
Sukuk Sub Sector
Auto Components
Issuer Credit Rating (S&P/ Fitch/ MARC)
***/ N.R/ AA-
Sukuk Credit Rating (S&P/ Fitch/ MARC)
***/ N.R/ A
Shariah Compliant
Yes
Islamic Principle
Exchange Listed
No
The Issuer may give, not less than five (5) business days before the relevant Periodic Distribution Date:-
(1) the Musawamah Investment Notice in writing to the Facility Agent and the Trustee (for and on behalf of the Sukukholders) that part or all of the Periodic Distribution Amount on such Periodic Distribution Date will be invested in the Commodities via a Musawamah Transaction upon the Issuer exercising the Musawamah Undertaking;
(2) the Deferral Notice in writing to the Facility Agent and the Trustee (for and on behalf of the Sukukholders) that part or all of the Musawamah Sale Price and/or the Balance Exercise Price will be further deferred,
provided that within the period of six (6) months prior to the relevant Periodic Distribution Date:-
(a) no dividend, distribution or other payment has been paid or declared by the Issuer in Obligations or Parity Obligations (except on a pro-rata basis); and
(b) Parity Obligations (except on a pro-rata basis) has been redeemed, reduced, cancelled, bought-back or acquired by the Issuer, in each case, other than in connection with any employee benefit plan or similar arrangements with or for the benefit of employees, officers, directors or consultants.
Dividend Stopper
So long as any Musawamah Sale Price and/or any Balance Exercise Price is outstanding, the Issuer shall not:-
(1) declare or pay any dividends, payments or other distributions on any of its Junior Obligations or its Parity Obligations (except on a pro-rata basis); or
(2) redeem, reduce, cancel, buy-back or acquire any of its Junior Obligations or its Parity Obligations (except on a pro-rata basis),
in each case, other than in connection with any employee benefit plan or similar arrangements with or for the benefit of employees, officers, directors or consultants, until it has paid the outstanding Musawamah Sale Price and/or the outstanding Balance Exercise Price (if any) in full.
Dividend Pusher
Payment by the Issuer of any outstanding Periodic Distribution Amount and/or Musawamah Sale Price and/or Balance Exercise Price (if any) will be mandatory (regardless of the Optional Deferral of Distribution) within one (1) month from any date:-
(1) if the Issuer has on such date declared or paid any dividends, payments or other distributions on any of its Junior Obligations or Parity Obligations (except on a pro-rata basis); or
(2) if the Issuer has on such date redeemed, reduced, cancelled, bought-back or acquired any of its Junior Obligations or Parity Obligations (except on a pro-rata basis),
in each case, other than in connection with any employee benefit plan or similar arrangements with or for the benefit of employees, officers, directors or consultants.
First Call date: 26 Aug 2027
The Call Date for each issuance shall be determined prior to the issuance of the relevant Sukuk Musharakah, and such call dates will include the first call date which is the date where the Sukuk Musharakah can first be called by the Issuer First Call Date and thereafter on each subsequent Periodic Distribution Date.
Cash Flow Information