S P Setia sets up RM4bil Islamic financing schemes

MARC Ratings has given the senior sukuk wakalah and perpetual sukuk wakalah preliminary ratings of AAIS and A IS, respectively.

KUALA LUMPUR: S P Setia Bhd has established two major Islamic financing programmes with a combined nominal value of RM4bil.

In a filing with Bursa Malaysia, the property developer said it had lodged the necessary documents with the Securities Commission for the implementation of a sukuk wakalah programme of up to RM3.5bil and an Islamic commercial papers (ICP) programme of up to RM500mil.