Bank of Tokyo to issue debut dollar, yen sukuk bonds in Malaysia

Bank of Tokyo-Mitsubishi UFJ (BTMU) will issue Islamic bonds in two tranches under its debut multi-currency sukuk wakala programme in Malaysia. BTMU will issue US$25 million (RM81 million) in a US dollar tranche and 2.5 billion yen (RM74 million) in a yen tranche on Thursday, a statement said. Both sukuk issues will have maturities of one year; the statement did not give other details such as pricing. Malaysia's CIMB Investment Bank is managing the issues. BTMU, part of the Mitsubishi UFJ Financial Group, set up a US$500 million multi-currency sukuk programme through its Malaysian unit in June.