Page 167 - EXIM-Bank_Annual-Report-2023

Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 165

Notes to the fiNaNcial statemeNts

19. BorroWINGS (cont’d)
Borrowings of the Group and the Bank comprise the followings: (cont’d)

Medium Term Notes
In November 2021, the Bank updated its USD3,000,000,000,000 the multicurrency MTN programme which is listed and
quoted in SGX. Under the programme, the Bank may from time to time issue notes in series or tranches, which may be
denominated in USD or any other currency deemed appropriate at the time. Each series or tranche of notes may be issued in
various amounts and tenures, and may bear fixed or floating rate of interest. This MTN is quoted on SGX.

Issuances made as at year end are as follows:
Date of issuance Nominal value Tenure Coupon rate Fixed/Floating
12 March 2013* HKD896 mil (equivalent to RM526 mil) 10 years 2.950% Fixed

6 June 2014 USD100 mil (equivalent to RM459 mil) 15 years 4.250% Fixed
28 February 2018* USD23 mil (equivalent to RM106 mil) 5 years 3m Floating
Libor+0.85%

4 May 2018* USD45 mil (equivalent to RM207 mil) 5 years 3m Floating
Libor+0.85%

26 Nov 2021 USD350 mil (equivalent to RM1,607 mil) 5 years 1.831% Fixed
* The Bond of HKD896.0 million has matured on 13 March 2023
* The Bond of USD23.0 million has matured on 28 February 2023
* The Bond of USD45.0 million has matured on 5 May 2023
Multi-currency Sukuk Programme

In September 2013, the Bank launched its USD1.0 billion unsecured multicurrency Sukuk programme through Special Purpose
Vehicle (“SPV”) company. Under the programme, the Bank may from time to time issue notes in series or tranches, which may
be denominated in USD or any other currency deemed appropriate at the time. Each series or tranche of notes may be issued
in various amounts and tenures, and may bear fixed or floating of interest.
The Bank established a SPV entity, EXIM Sukuk Malaysia Berhad, to issue the abovementioned Multi-currency Sukuk
Programme. Correspondingly, the borrowings from Sukuk are transacted with the SPV at the Bank level. At the Group level,
the borrowings from Sukuk are transacted with third parties who subscribed to and invested in the Sukuk.
Date of issuance Nominal value Tenure Coupon rate Fixed/Floating
6 May 2015 USD20 mil (equivalent to RM92 mil) 10 years 3.350% Fixed