KUALA LUMPUR: Pos Malaysia Bhd
has proposed to establish a subordinated perpetual Islamic notes (perpetual sukuk wakalah) programme of RM1 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar.
In a Bursa Malaysia filing today, it said proceeds from the issuance of sukuk under the programme will be utilised for Shariah-compliant purposes, including for capital expenditures of the issuer and its subsidiaries (issuer group), and refinancing of existing financing or existing borrowings or future Shariah-compliant financing of the issuer group.
The proceeds will also be used for the issuer group’s working capital and general corporate purposes, as well as to defray fees, costs and expenses relating to the establishment of and/or issuances under the perpetual sukuk wakalah programme, it added.
Maybank Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the perpetual sukuk wakalah programme, while Maybank Islamic Bhd is the Shariah adviser for the programme. - Bernama
