PETALING JAYA: Winstar Capital Bhd is proposing to issue a RM300mil sukuk to fund investments and land acquisitions, refinance existing borrowings, and meet working capital requirements.
The group, which lodged the Sukuk Murabahah Programme with the Securities Commission Malaysia on Monday, said part of the proceeds will also be used to defray expenses related to the issuance.
The company said the programme has a tenure of 30 years, with the first issuance expected to be made within 90 business days from the date of lodgement.
MARC Ratings Bhd has assigned a preliminary rating of A1/Stable to the programme.
MBSB Investment Bank Bhd and MBSB Bank Bhd are the joint principal advisers, joint lead arrangers, joint lead managers and Shariah adviser for the programme.
