KUALA LUMPUR: Eco World Development Group Bhd
’s (EcoWorld) wholly-owned subsidiary, Eco World Capital Bhd has issued RM850mil in sukuk wakalah.
In a filing with Bursa Malaysia, the property developer said the issuance was completed on Nov 11 under its RM3bil rated sukuk wakalah programme.
The issuance, the fifth under the programme, comprises three tranches.
The first tranche of RM150mil has a tenure of five years, while the second tranche of RM550mil has a tenure of seven years. The third tranche of RM150mil has a tenure of 10 years.
EcoWorld said proceeds from the issuance would be used for working capital requirements, capital expenditure, including land acquisitions, Shariah-compliant investments and general corporate purposes.
