KUALA LUMPUR: Scientex Bhd
’s wholly-owned subsidiary, Scientex Quatari Sdn Bhd is proposing to establish a Sukuk Wakalah Programme, under which it will issue multi-currency Islamic medium-term notes of up to RM1.5 billion in nominal value.
In a filing with Bursa Malaysia today, Scientex said the company has lodged with the Securities Commission Malaysia (SC) all the required information and relevant documents relating to the Sukuk Wakalah Programme pursuant to the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.
It said the Sukuk Wakalah Programme provides the flexibility for Scientex Quatari to issue Sustainability Sukuk Wakalah and Sustainability-Linked Sukuk Wakalah.
Each note to be issued will have a tenure of more than one year.
Proceeds from the issuance of the Sukuk Wakalah will be utilised for Shariah-compliant purposes, including finance and reimburse capital expenditure, investment, general corporate purposes and working capital requirements.
It will also be used to refinance existing and future financing, as well as pre-fund the minimum required balance in the finance service reserve account.
Scientex said RHB Investment Bank Bhd will act as the principal adviser, lead arranger, lead manager and facility agent for the Sukuk Wakalah Programme, while RHB Islamic Bank Bhd is the Shariah adviser of the Sukuk Wakalah Programme. - Bernama
