Maxis Head of Sales & Services Tan Lay Han and photos of Maxis' new customer service centre.....Sam Tham/Star.
KUALA LUMPUR: Maxis Bhd
’s unit Maxis Broadband Sdn Bhd (MBSB) plans to issue Islamic medium-term notes with a nominal value of up to RM10bil which will be partly used to finance the group's internal reorganisation exercise.
In a filing with Bursa Malaysia, the telecommunications service provider said MBSB made a lodgement on Wednesday with the Securities Commission (SC) for the unrated sukuk murabahah programme.
The unrated sukuk murabahah programme will have a tenure of more than one year and up to 30 years.
The proceeds would be partly used to settle the purchase consideration in relation to the buying the businesses and undertakings including relevant assets and liabilities from the target companies, namely units Maxis Mobile Sdn Bhd and Maxis Mobile Services Sdn Bhd.
Maxis had in December last year proposed an internal reorganisation aimed at consolidating and integrating the businesses and undertakings of Maxis’ wholly-owned operating subsidiaries under MBSB. The proposed exercise was to be completed in the first half of 2016.
The proceeds of the sukuk programme will also be used for the capital expenditure and working capital requirements of MBSB and its subsidiaries and/or other general funding requirements and general corporate purposes of this group and/or refinancing of their other debt/financing obligations and/or refinancing any maturing sukuk murabahah.
CIMB Investment Bank Bhd is the sole principal adviser and the sole lead arranger for the unrated sukuk murabahah programme. The syariah adviser for the unrated sukuk murabahah programme is CIMB Islamic Bank Bhd.
In June last year Maxis Bhd had also received the SC’s approval to set up an unrated sukuk murabahah programme with a tenure of up to 30 years to raise up to RM5bil. It issued RM840mil in nominal value in the same month.
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