Home > Business > Business News
Monday November 18, 2013 MYT 7:26:00 PM
Monday November 18, 2013 MYT 7:28:39 PM
KUALA LUMPUR: The Securities Commission has approved Boustead Holdings Bhd’s proposed Junior Islamic medium term note programme of up to RM1.2bil in nominal value.
It said on Monday the Junior Sukuk programme would entail the issuance of hybrid equity in the form of perpetual Junior Sukuk.
“Proceeds from the Junior Sukuk programme will be utilised to finance capital expenditure, working capital requirements, corporate exercises, repayment of intercompany borrowings and general investments by Boustead and its subsidiaries.
“The proceeds will also be used to refinance existing borrowings of Boustead and its subsidiaries,” it said.
Boustead Holdings deputy chairman/group managing director, Tan Sri Lodin Wok Kamaruddin said that once the group has completed this exercise, given the hybrid nature of the Sukuk Programme, it will not adversely affect Boustead’s gearing levels.
“The hybrid equity nature of the programme will eventually be reflected as part of shareholders’ funds,” he said.
Tags / Keywords:
Business News, Investing
Axis REIT issues RM155mil sukuk
Malaysia Airports completes issuance of RM500m Sukuk
MARC assigns AAAIS rating to Midciti sukuk programme
First Resources completes its RM600mil sukuk issuance
RAM Ratings to downgrade LEKAS’s junior Sukuk rating
Alibaba set to price IPO shares amid investor frenzy
Apple's iPhone 6 gets one Chinese license, needs another before sales begin
Apple to unveil new iPads, operating system on Oct 21: report
CEO Voon to part ways with S P Setia on Jan 1, 2015 to pursue his own interests
Infosys partners with China's Huawei for cloud-based services
Alibaba in talks with Snapdeal to enter India: Economic Times
Auctioning pieces of history
German brothers to make billions from Rocket e-commerce empire
Turkey announces strategy to bolster EU accession bid
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)