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BANK PEMBANGUNAN ISSUED ISLAMIC COMMERCIAL PAPERS AND/OR CONVENTIONAL COMMERCIAL PAPERS PERSUANT TO THE COMMERCIAL PAPERS PROGRAMME OF RM2.0 BILLION

Thursday, 31st March 2011
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Kuala Lumpur: Bank Pembangunan Malaysia Berhad (“BPMB”) has put in place an Islamic Commercial Papers and/or Conventional Commercial Papers Programme of RM2.0 billion in nominal value (collectively referred to as “Commercial Papers Programme” or “the Programme”) and is expected to make an issuance out of this Programme soon.

Both the Islamic Commercial Papers and Conventional Commercial Papers have been accorded the strongest short-term investment grade rating of MARC-1ID and MARC-1 respectively by Malaysian Rating Corporation Berhad (“MARC”).

The seven (7)-year Commercial Papers Programme was jointly arranged and managed by AmInvestment Bank Berhad (“AmInvestment Bank”) and Hong Leong Islamic Bank Berhad (“Hong Leong Islamic Bank”) (collectively referred to as the “Advisers”) with the Shariah Committee of Hong Leong Islamic Bank acting as the Shariah Adviser for the Islamic Commercial Papers.

The Islamic Commercial Papers to be issued under the Programme is based on the Shariah principle of Tawarruq (also known as Commodity Murabahah) and is supported by the Bursa Malaysia’s Bursa Suq Al-Sila’s commodity trading platform. Tawarruq (Commodity Murabahah), in this context, is a tripartite arrangement of cost plus or mark-up on Shariah-compliant commodities between the investors, issuer and commodity players (under Bursa Suq Al-Sila’ commodity trading platform). The Advisers believe that the structure’s mechanism and the tripartite arrangement will be able to attract a wide range of investors as it is widely accepted and practised both locally and internationally.

Proceeds from the issuance of the Islamic Commercial Papers and Conventional Commercial Papers will be used to fund BPMB’s Islamic financing activities and its general working capital, respectively.
The first issuance will be done through an open-tender process, monitored by the facility agent, AmInvestment Bank.

The first issuance will be done through an open-tender process, monitored by the facility agent, AmInvestment Bank.

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