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KUALA LUMPUR: Sime Darby Property Bhd
(SDP) has successfully issued its Sukuk Musharakah issuance worth RM600 million under its RM4.5 billion Sukuk Musharakah Programme.
In a filing with Bursa Malaysia, the company said the second issuance under the programme comprised RM200 million Asean Sustainability SRI Sukuk Musharakah with a three-year tenor, RM300 million Sukuk Musharakah with a five-year tenor and RM100 million Sukuk Musharakah with a seven-year tenor.
It said Malaysian Rating Corporation Bhd has affirmed the Sukuk Musharakah Programme’s rating of AA+IS with a stable outlook.
It said the proceeds from the issuance would be utilised to finance SDP group’s future investments, capital expenditure, its working capital requirements and general corporate purpose, and if required, to refinance its debt obligations.
In any case, the company said all utilisation of funds would be Shariah compliant.
Meanwhile, it said the utilisation of proceeds from the issuance of the Asean Sustainability SRI Sukuk Musharakah would meet the criteria as set out in SDP’s Sustainability Sukuk Framework.
SDP said its utilisation would also observe guidelines, frameworks or standards as amended from time to time under which such Asean Sustainability SRI Sukuk Musharakah are issued.
Maybank Investment Bank Bhd (Maybank IB) is the sole principal adviser and lead arranger for the Sukuk Musharakah Programme.
CIMB Investment Bank Bhd, Maybank IB and Public Investment Bank Bhd are the joint lead managers for the Sukuk issuance. – Bernama
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