George Kent submits RM500mil Sukuk plan

KUALA LUMPUR: George Kent (M) Bhd has submitted a plan to raise RM500mil via the issuance of Islamic debt papers.

Proceeds from the proposed Sukuk Wakalah programmes will be utilised to fund investments, capital expenditure and refinance existing borrowings, the water meter maker and rail engineering firm said.

George Kent said it is planning to raise up to RM100mil by issuing seven-year Islamic commercial papers (ICP).

It is also Islamic medium term notes (IMTNs) with a 30-year tenure from the date of the first issue. The total combined issuance of the ICPs and IMTNs will be up to RM500mil.

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George Kent , Sukuk


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