Malaysia Airports issues 500 million ringgit sukuk

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airport plus planeMalaysia Airports Holdings Bhd said it has successfully completed the issuance of 500 million ringgit ($150.6 million) Islamic debt notes in two tranches of three years and five years. The debt notes were issued under company’s senior sukuk programme.

It said on September 6 that  the distribution rate for the first tranche of 250 million ringgit, which will mature on September 6, 2016, was 3.85 per cent. The rate for the second tranche, which will mature on September 6, 2018, is 4.15 per cent.

The company had mandated CIMB Investment Bank Bhd, Citibank Bhd, HSBC Amanah Malaysia Bhd and Maybank Investment Bank Bhd amongst others, as the joint lead arrangers and joint lead managers for the programmes.

The funds will be used to finalise the construction of Kuala Lumpur International Airport 2 whose costs had risen to 4 billion ringgit from 3.1 billion ringgit after numerous delays. The new airport is set to be the world’s largest terminal for budget airlines and plans to serve 45 million passengers each year.

The sukuk, which was oversubscribed by 3.4 times, was taken up by a group comprising government agencies, corporate buyers and financial institutions.

 

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Reading Time: 1 minute

Malaysia Airports Holdings Bhd said it has successfully completed the issuance of 500 million ringgit ($150.6 million) Islamic debt notes in two tranches of three years and five years. The debt notes were issued under company’s senior sukuk programme.

Reading Time: 1 minute

airport plus planeMalaysia Airports Holdings Bhd said it has successfully completed the issuance of 500 million ringgit ($150.6 million) Islamic debt notes in two tranches of three years and five years. The debt notes were issued under company’s senior sukuk programme.

It said on September 6 that  the distribution rate for the first tranche of 250 million ringgit, which will mature on September 6, 2016, was 3.85 per cent. The rate for the second tranche, which will mature on September 6, 2018, is 4.15 per cent.

The company had mandated CIMB Investment Bank Bhd, Citibank Bhd, HSBC Amanah Malaysia Bhd and Maybank Investment Bank Bhd amongst others, as the joint lead arrangers and joint lead managers for the programmes.

The funds will be used to finalise the construction of Kuala Lumpur International Airport 2 whose costs had risen to 4 billion ringgit from 3.1 billion ringgit after numerous delays. The new airport is set to be the world’s largest terminal for budget airlines and plans to serve 45 million passengers each year.

The sukuk, which was oversubscribed by 3.4 times, was taken up by a group comprising government agencies, corporate buyers and financial institutions.

 

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