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.
Low usage of land
Sound fundamental to help M’sia face rising rates
Towards creative leadership
Eye on Stock
First-time house buyers to gain
Falling commodity prices present downside risk to Malaysia’s economy
WTA considers new women's team event
Ebola death toll tops 4,900 out of more than 10,000 cases - WHO
Mesmerising Northern Territory – its parks and indigenous culture
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)