KUALA LUMPUR: George Kent (M) Bhd
has issued RM80mil in Islamic Medium Term Notes (IMTN) under its Sukuk Wakalah Programme.
In a Bursa Malaysia filing, the group said the three-year sukuk carries a 6% annual distribution rate and is rated A+is with a stable outlook by Malaysian Rating Corp Bhd.
George Kent said the proceeds will be used to refinance existing borrowings and future Islamic financing, including outstanding IMTN.
AmInvestment Bank is the principal adviser and lead arranger, with AmBank Islamic Bhd as Shariah adviser, while Affin Hwang Investment Bank is the sole lead manager for the issuance.
“This successful exercise reflects the company’s continued access to the capital markets, demonstrating investor confidence in George Kent’s credit strength and long-term prospects.
“George Kent remains focused on prudent capital management and will continue to evaluate funding options that align with its strategic objectives and enhance long-term shareholder value,” George Kent said in a separate statement.
