KUALA LUMPUR: AME Real Estate Investment Trust
(Ame REIT), through its special purpose vehicle, Ame REIT Sukuk Sdn Bhd, has announced the proposed establishment of an Islamic Medium Term Notes (Sukuk Wakalah) Programme of RM1.0 billion in nominal value.
The Sukuk Wakalah is based on the Shariah principle of Wakalah Bi Al-Istithmar.
In a Bursa Malaysia filing, the company said that the Sukuk Wakalah Programme allows for the issuance of Sukuk Wakalah from time to time, provided that the aggregate outstanding nominal value of Sukuk Wakalah shall not exceed the Sukuk Wakalah Programme’s size of RM1.0 billion at any one time.
It added that the programme shall have a perpetual tenure, and the first issuance of the Sukuk Wakalah shall be made within 90 business days from the date of lodgement or within a timeframe set by the Securities Commission.
"The issuer would also have the flexibility to issue sustainability Sukuk Wakalah and sustainability-linked Sukuk Wakalah,” it said.
It said that the proceeds from the programme will be utilised for Shariah-compliant purposes to support Ame REIT’s growth and operations.
"The proceeds will be used, among others, to finance investment activities such as capital expenditure, asset enhancements, and related acquisitions and financing expenses.
"They will also be used to refinance existing and future Islamic financing and to fund working capital as well as general corporate requirements,” it said.
Maybank Investment Bank Bhd is the principal adviser, lead arranger, and lead manager for the programme, while Maybank Islamic Bhd serves as the Shariah adviser. - Bernama
