Home › Business › Business News
Tuesday, 3 December 2013
EKOVEST Bhd’s subsidiary Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi) has issued RM2.3bil in nominal value sukuk musharakah and RM180mil in nominal value junior bonds.
The proceeds would be used to redeem Kesturi’s existing RM820mil nominal value Islamic medium term notes and existing RM50mil nominal value redeemable secured junior bonds.
It told Bursa Malaysia that the proceeds would also be used to fund the initial deposit in the finance service reserve account maintained under the sukuk programme. The funds would be used to part-finance the construction costs, development costs, financing costs, fees and expenses in relation to the Duta-Ulu Kelang Expressway phase 2.
The sukuk programme and junior bonds were rated AA-IS and A- with stable outlook respectively by Malaysian Rating Corp Bhd.
CIMB Investment Bank Bhd is the sole principal adviser, lead arranger and lead manager for the sukuk programme and junior bonds.
Tags / Keywords:
Business, Business, ekovest
Road closure to facilitate construction of Link
Strong interest in commercial development
Nod for DUKE expressway Phase 3 privatisation
Linking up the city
Ekovest on course to complete DUKE highway extension by 2016
Avoid repeating mistakes of KLIA2
China steps up energy overhaul
Sime’s plan to reduce RM19.7bil debt; may monetise assets, place out shares
US consumer sentiment up less than forecast
Daiman to gain from JB city centre project
Eight experiences you can’t miss when in Australia
Liverpool's Sturridge suffers foot injury in training
Developer organises run to raise funds for two schools
Air Asia free seat promotion begins today
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)