LBS ISSUES RM200M FIRST TRANCHE OF SUKUK WAKALAH

‘LBS is the first real estate developer in Malaysia to issue an Asean Social SRI Sukuk Wakalah with its proceeds to be tagged to affordable housing,’ says LBS group executive chairman Tan Sri Ir Dr Lim Hock San.

PETALING JAYA: LBS Bina Group Bhd announced today that it has successfully issued its first tranche of Asean Social SRI Sukuk Wakalah amounting to RM200mil in nominal value under its newly established RM750mil Sukuk Wakalah Programme which has been rated AA-IS with “stable” outlook by MARC Ratings Bhd.

The first tranche, priced at a yield of 5% with a periodic distribution rate of 5% per annum, is secured and has a tenure of five years from the issue date – maturing on Jan 23, 2029.