Sukuk Factsheet
ASIFIN 5.050% 20Dec2029 Corp (MYR)
MBSB Bank Berhad
Indicative
Full Lot
Bid Price 99.850
Change in Bid Price 0.002
Bid Yield (%) 5.084 %
Change in Bid Yield
-
Ask Price 100.300
Change in Ask Price 0.002
Ask Yield (%) 4.421 %
Change in Ask Yield
-
Indicative price as of 20 Dec 2024, 12:00am
Sukuk Issuer
MBSB Bank Berhad
Guarantor
-
Announcement Date
11 Dec 2019
Issue Date
20 Dec 2019
Maturity Date
20 Dec 2029
Years to Maturity / Next Call
3.212 / 0.209
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.050
Distribution Type
Fixed
Annual Distribution Rate
5.050
Distribution Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Subordinated
Reference Rate
-
ISIN
MYBVN1902946
CUSIP
ZP1543328
Sukuk Currency
MYR
Total Issue Size
650,000,000
Min. Investment Quantity (Nominal)
MYR 1,000
Incremental Quantity (Nominal)
MYR 1,000
Sukuk Type
Corporate
Sukuk Sector
Financials
Sukuk Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch/ RAM)
***/ N.R/ N.R
Sukuk Credit Rating (S&P/ Fitch/ RAM)
***/ N.R/ A3
Shariah Compliant
Yes
Islamic Principle
Sukuk Al Wakala Bel Istithmar
Exchange Listed
No
Loss Absorption
If a Non-Viability Event occurs, the Issuer shall irrevocably, without the need for the consent of the Sukuk Trustee or the Subordinated Sukukholders, write-off the Subordinated Sukuk Wakalah (in whole or in part) if so required by BNM and/or Malaysia Deposit Insurance Corporation ("PIDM") at their full discretion.
(i) the write-off shall reduce:
(a) the claim of the Subordinated Sukuk Wakalah in liquidation. The Subordinated Sukukholders will be automatically deemed to irrevocably waive their right to receive, and no longer have any rights against the Issuer with respect to, any payment of the aggregate nominal value of the Subordinated Sukuk Wakalah written off;
(b) the amount paid when a call option is exercised; and
(c) Periodic Distribution of the Subordinated Sukuk Wakalah; and
(ii) the write-off shall be permanent and the full or part (as the case may be) of the nominal value of the Subordinated Sukuk Wakalah will automatically be written-off and the whole or part (as the case may be) of the Subordinated Sukuk Wakalah will be cancelled.
Such write-off shall not constitute a Dissolution Event, nor would it trigger a cross default under any other outstanding Subordinated Sukuk Wakalah.
A Non-Viability Event shall be deemed to have occurred on the day on which the Issuer received the notification from the Relevant Malaysia Authority (as defined below) or on the day the public announcement is made, as the case may be.
"Non-Viability Event" means the earlier of the following:
(i) BNM, jointly with PIDM, so long as the Issuer is a Member Institution (as defined in the Malaysia Deposit Insurance Corporation Act 2011), or BNM, if the Issuer is no longer a Member Institution ("Relevant Malaysian Authority") notifying the Issuer in writing that the Relevant Malaysian Authority is of the opinion that a write-off or conversion into ordinary shares is necessary, without which the Issuer would cease to be viable; or
(ii) the Relevant Malaysian Authority publicly announces that a decision has been made by BNM, PIDM or any other federal or state government in Malaysia, to provide a capital injection or equivalent support to the Issuer, without which the Issuer would cease to be viable.
Issuer Call
"Call Date" means any Periodic Distribution Date on or after the fifth (5th) anniversary of the issue date of that tranche of Subordinated Sukuk Wakalah, on or after the First Call Date (as defined below).
"First Call Date" shall refer to the first Periodic Distribution Date where such date shall be determined prior to issuance and must fall on or after the fifth (5th) anniversary of the issue date of that tranche of Subordinated Sukuk Wakalah.
Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.