Malaysia Airports prices RM1bil sukuk at 5.75%

  • Business
  • Friday, 05 Dec 2014

KUALA LUMPUR: Malaysia Airports Holdings Bhd's 1 billion ringgit ($290 million) issuance of Islamic bonds has been priced at an annual rate of 5.75 percent, the airport operator said on Thursday.

Funds from the subordinated perpetual sukuk programme, established in September, will be used to fund working capital, the refinancing of debt and other general investments, MAHB said in a stock exchange filing.

MAHB earlier told Reuters that the company will raise 1 billion ringgit in sukuk, as costs for the Kuala Lumpur International Airport 2 terminal had risen to 4 billion ringgit from 3.1 billion ringgit after numerous delays.

CIMB Group Holdings Bhd, HSBC Amanah Malaysia, Citigroup and Maybank are the joint bookrunners and lead managers for the sukuk musharaka, which has been rated AA2 by Kuala Lumpur-based RAM Ratings.- Reuters
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