KUALA LUMPUR: HCK Capital Group Bhd
’s wholly owned subsidiary, HCK Cap Access Bhd, has lodged the necessary documents with the Securities Commission (SC) to establish a sukuk wakalah programme, with a value of up to RM2bil.
In a filing with Bursa Malaysia, the property developer said that the senior Sukuk Wakalah had been assigned a final credit rating of AIS by MARC Ratings Bhd, while the Perpetual Sukuk Wakalah shall remain unrated.
"The proceeds of the Sukuk Wakalah shall be utilised by HCK Cap Access to invest in the wakalah investments and shall be advanced by HCK Cap Access to HCK Capital, as the obligor of the sukuk wakalah programme via shariah compliant inter-co financing," HCK Capital said.
CIMB Investment Bank Bhd is the sole principal adviser, sole lead arranger, and joint lead manager for the Sukuk Wakalah programme.
CIMB Islamic Bank Bhd serves as the shariah adviser for the programme, while Alliance Islamic Bank Bhd has been appointed as the joint lead manager for distribution.
