UEM Sunrise Islamic paper issuance done

PETALING JAYA: UEM Sunrise Bhd has completed its issuance of RM100mil in nominal value of Islamic commercial papers (ICPs) and RM110mil in nominal value of Islamic medium-term notes (IMTNs) under the new ICP Programme and IMTN programme established in October 2021.

In a Bursa Malaysia filing, the property developer said the ICPs have a tenure of 12 months and will mature on April 12, 2023, whilst the IMTNs have a tenure of three years and will mature on April 11, 2025.

The proceeds will be used for UEM Sunrise’s syariah-compliant general corporate purposes including project development cost and infrastructure cost, capital and general expenditure, and refinancing of Islamic financing or outstanding loan facilities.