KUALA LUMPUR: Central Global Bhd
(CGB) is proposing to establish an Islamic medium-term notes programme of up to RM500mil in nominal value under the Shariah principle of Mudharabah.
In a Bursa Malaysia filing, CGB said it had lodged the required information and documents for the Sukuk Mudharabah programme with the Securities Commission Malaysia on Oct 2.
The programme will have a tenure of up to 99 years from the date of the first issuance, with the first issuance to be made within 90 business days from the lodgement date.
CGB said proceeds from the sukuk would be used for Shariah-compliant purposes, including acquisitions, capital expenditure, general corporate purposes and working capital.
The proceeds may also be used to refinance or repay existing or future Islamic financing and existing conventional borrowings, as well as to cover fees and expenses related to the programme.
Each sukuk issuance may be rated, unrated or a combination of both, depending on the company's decision before the relevant tranche is issued.
Kenanga Investment Bank Bhd has been appointed principal adviser, lead arranger, lead manager and facility agent, as well as Shariah adviser for the programme.
