Sime Darby Property issues RM600mil sukuk

KUALA LUMPUR: Sime Darby Property Bhd (SDP) has concluded its sukuk musharakah issuance worth RM600mil under its RM4.5bil programme.

In a filing with Bursa Malaysia, the company said the second issuance under the programme comprised RM200mil Asean sustainability SRI sukuk musharakah with a three-year tenor, RM300mil sukuk musharakah with a five-year tenor and RM100mil sukuk musharakah with a seven-year tenor.

Malaysian Rating Corp Bhd has affirmed the Sukuk Musharakah Programme’s rating of AA+IS with a stable outlook.

The proceeds from the issuance would be utilised to finance SDP group’s future investments, capital expenditure and working capital requirements among others. — Bernama