KUALA LUMPUR: United Overseas Bank (M) Bhd (UOB Malaysia) has successfully priced and placed out Exsim group’s issuance of four-year RM300mil Islamic medium-term notes (IMTN) at a fixed profit rate of 5.1% per annum.

       In a statement, UOB Malaysia said the issuance is the third tranche of the property developer’s RM2bil sukuk musharakah programme that monetises the future earnings of its green residential development in the Klang Valley. UOB Malaysia is the lead arranger and lead manager of the IMTN issuance.

       “As the Malaysian property market has shown stronger signs of recovery in the first quarter of 2022, the IMTN issuance was well received by quality institutional investors, including insurance companies, asset management companies, banks and private banks,” it said. — Bernama