Maxis to raise RM5bil from 30-year sukuk

Sukuk funding: Maxis, which has a market capitalisation of RM48.8bil, said the notes would be used to finance its capex, working capital and general corporate purposes.

PETALING JAYA: The country’s largest mobile phone operator, Maxis Bhd, is planning to raise as much as RM5bil from a 30-year sukuk for its capital expenditure (capex) and debt refinancing.

The company said in a stock exchange filing that the unrated sukuk murabahah programme would be available 30 years from the date of the first issuance, which should be made within two years of approval. The issue price of the Islamic bond will also be fixed prior to each issuance.