AFG proposes to raise RM180mil via sukuk programme - Business News | The Star Online


AFG proposes to raise RM180mil via sukuk programme

  • Banking
  • Thursday, 14 Sep 2017

KUALA LUMPUR: Alliance Financial Group Bhd (AFG) is proposing to raise up to RM180mil through its subordinated sukuk murabahah programme.

In a filing with Bursa Malaysia on Thursday, the group said Alliance Investment Bank Bhd (AIBB) had submitted all required information and relevant documents relating to the sukuk programme to the Securities Commission on behalf of Alliance Islamic Bank Bhd, an indirect wholly-owned subsidiary of AFG.

It said the proceeds would be used for Alliance Islamic Bank’s general banking, working capital and other corporate purposes, including the refinancing of any financing incurred and/or any financing instruments issued by the bank.

AFG said it had obtained the approval from Bank Negara Malaysia on Aug 24 for the establishment of the sukuk programme and the issuance of up to RM130mil of subordinated sukuk.

AIBB will act as the principal adviser, lead arranger, lead manager and facility agent for the sukuk programme, while Alliance Islamic Bank will act as the syariah adviser. - Bernama