KUALA LUMPUR: Al-Salam Real Estate Investment Trust
(Al-Salam REIT), through its special purpose vehicle, ALSREIT Capital Sdn Bhd, has lodged a Sukuk Wakalah Programme of up to RM3.0 billion in nominal value with the Securities Commission (SC).
In a filing with Bursa Malaysia, it said the programme allows for the issuance of senior Islamic medium-term notes (Senior Sukuk Wakalah) and/ or subordinated perpetual Islamic notes (Perpetual Sukuk Wakalah) based on the Shariah principle of Wakalah Bi Al-Istithmar.
JLG REIT Managers Sdn Bhd, the manager of Al-Salam REIT, said the issuance of Sukuk Wakalah from time to time under the Sukuk Wakalah Programme may be rated and/ or unrated, to be determined prior to each issuance.
The programme also allows for the issuance of Sukuk Wakalah on sustainability and/ or sustainability-linked format, in compliance with the relevant guidelines, frameworks or standards, as well as the applicable framework to be established by Al-Salam REIT.
Proceeds raised under the programme would be utilised for financing investment activities, refinancing existing and/ or future Islamic financing, funding working capital and general corporate requirements, refinancing maturing sukuk, funding the requisite deposits in the sukuk trustee’s reimbursement account, and defraying expenses related to the programme or future issuances.
Maybank Investment Bank Bhd is the principal adviser and lead arranger for the Sukuk Wakalah Programme, while Maybank Islamic Bhd has been appointed as the Shariah adviser. - Bernama
