KUALA LUMPUR: Pendidikan Industri YS Sdn Bhd (PIYS) has appointed Affin Investment Bank Bhd principal adviser, lead arranger and primary subscriber for its issuance of Bai’ Bithaman Ajil Islamic debt securities (BaIDS) at nominal value of up to RM150mil.
PIYS is a wholly-owned subsidiary of Menteri Besar Selangor Inc that provides educational services via Universiti Industri Selangor (Unisel).
Affin Investment Bank said in a statement that the BaIDS would have a maximum tenure of 14 years.
It said the Islamic debt securities had been accorded a rating of AA1(s) by RAM Rating Services Bhd.
The statement said proceeds from the issuance of the BaIDS would be used to construct buildings for Unisel as well as to fund the university's future expansion.
The signing of legal documents between PIYS and Affin Investment Bank on Tuesday was witnessed by Selangor Mentri Besar Datuk Seri Dr Mohamad Khir Toyo.
Established in 2000, Unisel has 11,098 registered students.
It currently operates in two campuses in Batang Berjuntai and Shah Alam.