MAS defers RM1.5bil Islamic bonds payments


  • Aviation
  • Thursday, 24 Sep 2020

In a notice on the central bank’s website, CIMB Investment Bank said Malaysia Airlines Bhd issued deferral notices last week on periodic distribution amounts due on Sept 30 for RM1.5bil nominal value unrated perpetual sukuk musharakah.

KUALA LUMPUR: Malaysia’s national carrier has deferred by six months payments to holders of RM1.5bil (US$362.49mil) Islamic bonds, CIMB Investment Bank, the facility agent, said.

In a notice on the central bank’s website, CIMB Investment Bank said Malaysia Airlines Bhd issued deferral notices last week on periodic distribution amounts due on Sept 30 for RM1.5bil nominal value unrated perpetual sukuk musharakah.

Payments will resume at the next periodic distribution date on March 31 next year, it added in the notice filed on Tuesday.

The Covid-19 pandemic has hit airlines hard, with nations shutting borders as a precaution, bringing travel almost to a grinding halt. Malaysia Airlines, which had struggled financially even before the outbreak, said in April it had made cost cuts and was working with sole shareholder Khazanah Nasional Bhd for support to ride out the crisis. — Reuters

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Malaysia Airlines , Islamic bonds , CIMB , defer

   

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