Yinson announces issuance of RM640mil sukuk

KUALA LUMPUR: Yinson Holdings Bhd has successfully issued a Perpetual Sukuk Wakalah worth RM640.0 million in nominal value pursuant to its Perpetual Sukuk Wakalah Programme.

The Perpetual Sukuk Wakalah is rated A3 by RAM Rating Services Bhd and A-IS by MARC Ratings Bhd, the company said in a filing with Bursa Malaysia today.

"The proceeds raised from the issuance of the Perpetual Sukuk Wakalah shall be utilised for Yinson and/or its group of companies’ Shariah-compliant purposes, comprising capital expenditures, refinancing of existing financing or borrowings or future financing and working capital,” it added.

Yinson also said that the proceeds could be utilised for other general corporate purposes, and to defray fees, costs and expenses relating to the establishment and/or issuance of the Perpetual Sukuk Wakalah Programme.

AmInvestment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers for the Perpetual Sukuk Wakalah Programme, while CIMB Investment Bank Bhd and United Overseas Bank (Malaysia) Bhd are the joint lead managers for the said issuance. - Bernama