KUALA LUMPUR (Bernama) — Mah Sing Group Bhd
has accomplished an issuance of secured and unrated Sukuk Murabahah of RM300 million in nominal worth underneath the corporate’s present Sukuk Murabahah Programme.
In a submitting with Bursa Malaysia in the present day, the property developer mentioned the secured and unrated Islamic medium time period notes has a tenure of 5 years and carries a set revenue price of 4.90 per cent every year payable semi-annually.
“Proceeds from the sukuk can be utilised for shariah-compliant functions which can embrace land banking, capital expenditures, investments and dealing capital of Mah Sing and its subsidiaries and affiliate corporations.
“It additionally contains refinancing of the group’s present borrowings and redemption of unrated perpetual securities,” it mentioned.
Mah Sing mentioned the issuance of the Sukuk Murabahah won’t have any impact on the issued share capital of the corporate, the substantial shareholders’ shareholdings within the firm, and the group’s internet property per share.
“The impact on earnings per share and internet debt place of the group will depend upon the precise use of proceeds which has not been decided at this juncture,” it mentioned.
Hong Leong Funding Financial institution Bhd (HLIB) has been appointed because the principal adviser, lead arranger and lead supervisor for the programme.
