Home › Business › Business News
Friday, 21 March 2014
KUALA LUMPUR: Petronas Dagangan Bhd has issued RM300mil Islamic medium term notes under its proposed RM2bil Sukuk programme.
It said on Friday the tenure of the issue was 367 days from the date of issuance. The profit rate was 3.53% per annum payable semi-annually.
"The proceeds to be raised from the first issuance will be utilised by the issuer to finance its working capital requirements which are Shariah-compliant," it said.
Petronas Dagangan said upon the first issuance, its consolidated gearing would increase from 0.12 times to 0.18 times on a proforma basis, based on its audited consolidated statement of financial position as at Dec 31, 2013.
The Sukuk programme was assigned final short-term and long-term ratings of MARC-1(IS) and AAA(IS) respectively by Malaysian Rating Corp Bhd, with a stable outlook.
The proposed Sukuk programme was announced on April 19, 2013. CIMB Investment Bank Bhd and HSBC Amanah Malaysia Bhd were the joint principal advisers, joint lead arrangers and joint lead managers for the RM2bil Sukuk programme.
The joint Shariah advisers for the Sukuk programme were CIMB Islamic Bank Bhd and HSBC Amanah Malaysia Bhd.
Petronas Dagangan eyes airports
Petronas Dagangan’s Q3 earnings slip 6.8% to RM226.21m
Petronas to boost offerings and ambience at its stations
KLCI eases early Tuesday, Genting Bhd slips
KLCI chalks up 10pts, Tenaga, Genting climb
Low usage of land
Towards creative leadership
Demographia: Malaysia’s residential housing market ‘severely unaffordable’
Deposit growth slows, suggesting strong inflationary pressures
Falling commodity prices present downside risk to Malaysia’s economy
Pick-up in CPO prices expected in 2015
Apple CEO says had "very open" privacy talks in China: Xinhua
Upping the chances of getting a rescued pet adopted
Firefly to increase JB-Ipoh flights from Nov 1
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)