In a filing to Bursa Malaysia today, the company said it had obtained the endorsement of the SC’s Shariah Advisory Council on December 10 for the sukuk programme and lodgement with the SC was made on December 20.
The sukuk will have a tenure of eight years from the date of the first issue, which shall be made within 60 business days from the date of the lodgement with the SC.
FGV said the Sukuk Murabahah programme would provide the group with an alternative access to funding in the local debt capital markets, in addition to conventional bank borrowings.
"The proceeds from the sukuk will be utilised by FGV to refinance its existing financing or borrowing.
"For the avoidance of doubt, the utilisation of the proceeds from the Sukuk Murabahah Programme will at all times be for Shariah-compliant purposes,” it added.
Maybank Investment Bank Bhd is the Principal Adviser, Lead Arranger and Lead Manager for the Sukuk programme while Maybank Islamic Bhd is the Shariah Adviser. - Bernama