KUALA LUMPUR: Mah Sing Group Bhd
has completed the issuance of RM300mil in rated and unsecured Sukuk Murabahah under its existing RM2bil sukuk programme.
In a filing with Bursa Malaysia, the property developer said the issuance comprised two series, namely RM95mil with a three-year tenure and RM205mil with a five-year tenure.
The sukuk programme, which was upsized from RM1bil to RM2bil, has been assigned an AA-IS credit rating with a stable outlook by MARC Ratings Bhd.
“The proceeds raised from this issuance of Sukuk Murabahah will be utilised for Shariah-compliant purposes which may include landbanking, capital expenditures, investments and working capital of Mah Sing and its subsidiaries and associate companies as well as the refinancing of the Group's existing borrowings and/or redemption of the existing Sukuk Murabahah,” Mah Sing said.
Hong Leong Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the programme.
