KUALA LUMPUR: Mah Sing Group Bhd
has completed the issuance of RM250mil secured and unrated Sukuk Murabahah under its existing Sukuk Murabahah Programme
In a filing with Bursa Malaysia, the property developer said the Sukuk Murabahah has a five-year tenure and carries a fixed profit rate of 4.25% per annum, payable semi-annually.
The sukuk is secured by assets owned by the company’s subsidiaries and 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.
