Maxis issues first series of sukuk murabahah

  • Business
  • Tuesday, 23 Jun 2015

KUALA LUMPUR: Maxis Bhd has issued the first series of its sukuk murabahah of RM840mil in nominal value pursuant to its unrated sukuk murabahah programme.

The tenure is for 10 years from the issue date.

The country’s largest mobile phone operator plans to raise as much as RM5bil from a 30-year sukuk for its capital expenditure (capex) and debt refinancing.

The company said in a filing with Bursa Malaysia yesterday 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.

It added that the Islamic medium-term notes might be with or without periodic profit payments. The coupon rate and yield to maturity would also be fixed prior to each issuance of the sukuk.

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.

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