KUALA LUMPUR: Mah Sing Group Bhd
has completed an issuance of secured and unrated Sukuk Murabahah of RM350mil in nominal value under the company’s existing Sukuk Murabahah programme.
In a filing with Bursa Malaysia, the property developer said that the Sukuk Murabahah had a tenure of five years and carried a fixed profit rate of 4.45% per annum, payable semi-annually.
The Sukuk Murabahah was secured by assets owned by the company's subsidiaries and certain designated accounts.
“The proceeds raised from this issuance of Sukuk Murabahah will be utilised for Shariah-compliant purposes which may include landbanking, capital expenditures, investments and working capital of Mah Sing and its subsidiaries and associate companies as well as the refinancing of the group’s existing borrowings and/or to redeem the existing Sukuk Murabahah,” Mah Sing said.
Hong Leong Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the Sukuk Murabahah programme.
