Exsim issues landmark sukuk transaction

Landmark sukuk: (from left) Danajamin Nasional Bhd director of client coverage Gerald Goh, chief corporate and investment officer Amri Sofian, MD Mohamed Nazri Omar, Aik Hoe, Exsim deputy MD Lim Aik Kiat, Charanjeev Singh, Kwan and UOB (M) Bhd debt capital markets, investment banking director Audrey Chew during Exsim Group’s landmark RM3bil sukuk transaction.

EXSIM Development Group successfully established its first landmark RM3bil financial programme comprising RM2bil sukuk musharakah IMTN programme and a RM1bil sukuk murabahah Islamic commercial papers (ICP) programme through a special-purpose financial vehicle, Exsim Capital Resources Bhd.

On Jan 30, Exsim issued a real estate unbilled sales-backed sukuk facility, which is the first structured transaction in Malaysia to monetise progress billings involving multiple development projects, allowing Exsim to more efficiently manage its project development cash flows.

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