PETALING JAYA: Velesto Energy Bhd
’s wholly-owned subsidiary, Sumber Ribu Sdn Bhd, has lodged documents with the Securities Commission to establish Islamic commercial papers (ICP) and Islamic medium-term notes (IMTN) programmes with a combined limit of up to RM1bil.
“The sukuk wakalah programmes will provide Velesto and its group of companies the flexibility to raise funds via the issuance of ICP and/or IMTN from time to time, up to RM1bil in nominal value, pursuant to the sukuk wakalah programmes,” Velesto said in a filing with Bursa Malaysia.
The ICP programme will have a tenure of seven years, with issuances maturing between one and 12 months, while the IMTN programme will have a perpetual tenure with a minimum tenure of one year per issuance.
