Home › Business › Business News
Monday, 18 November 2013
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.
RAM Ratings downgrades Lebuhraya Kajang-Seremban’s RM633m junior Sukuk
Dialog forms 2 subsidiaries
S P Setia gets SC nod for RM700m Sukuk programme
IGB REIT posts 7.6% rise in Q4 profit
RAM Ratings to downgrade LEKAS’s junior Sukuk rating
New Microsoft CEO pay tops US$80mil with big stock awards
CIMB unit ventures into Indonesia’s retail sector
Gold keeps gains to trade near one-month high
Mobius says Malaysia is relatively expensive compared with other countries
Will EPF be allowed to vote on merger?
China's Q3 GDP growth at 7.3%, industrial output 8%
Fright nights at Disney and Warner Bros parks
Court face off: Facebook sues lawyers for pursuing dubious Ceglia lawsuit
Many big bikers have poor attitude on the road, say groups
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)