KUALA LUMPUR (Oct 2): Bank Islam Malaysia Bhd (KL:BIMB) said it has issued the second tranche amounting to RM250 million under its RM5 billion sukuk wakalah programme.

The additional tier-1 capital sukuk wakalah, with a perpetual non-callable period of five years, has been assigned a long-term rating of A3 by RAM Rating Services Bhd, the bank said in a bourse filing on Wednesday.

Bank Islam said proceeds from the sukuk issuance will be used to finance its general working capital requirements and other general corporate purposes.

"The sukuk shall qualify as tier-1 regulatory capital of Bank Islam in compliance with Bank Negara Malaysia’s Capital Adequacy Framework for Islamic Banks (Capital Components)," the bank said.

Bank Islam is the principal adviser, lead arranger, lead manager and shariah adviser for the sukuk wakalah programme.

Shares of Bank Islam closed half a sen or 1.82% lower at RM2.69 on Wednesday, valuing the bank at RM6.1 billion. Year-to-date, the bank's shares have appreciated by 21.17%.