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MALAYSIA Airlines (MAS) announced that it had issued the entire first tranche of the junior sukuk amounting to RM1bil to Retirement Fund Inc (KWAP). According to media reports, MAS stated that it had received firm commitment from other parties to subscribe to the balance of RM1.5bil of junior sukuk.
PETALING JAYA: Malaysia Airlines (MAS) has found enough takers for its RM2.5bil 10-year perpetual junior sukuk of which the first tranche of RM1bil bonds had been fully-subscribed by Kumpulan Wang Persaraan (Diperbadankan) (KWAP). With the first tranche of the funding in place and MAS having received firm commitments for the remaining RM1.5bil issue, the next big step for the airline is to unveil its business plan, and that according to MAS group CEO Ahmad Jauhari Yahya would be announced on June 21, the same day as the airline’s AGM.
Malaysian Airline System Bhd (MAS) issued RM2.5bil of perpetual junior bonds, of which RM1bil was fully subscribed by Kumpulan Wang Persaraan Diperbadankan) (KWAP).
Malaysia Airlines has been in the centre of news of late. The shareholding tie-up with AirAsia, from which much was expected, has been dismantled and the airline continues to post losses albeit at a smaller scale when it announced a loss of RM171mil for its first quarter ended March 31 earlier in the week. StarBizWeek interviewed MAS group CEO Ahmad Jauhari Yahya (pic) on the latest developments in MAS. Below are the excerpts of his response.
PETALING JAYA: Malaysia Airlines (MAS) has secured investors, mostly in the form of government-linked investment companies (GLICs), to take up the bonds it will be issuing, including the debt papers to be issued by the special purpose vehicle (SPV) to fund MAS’ aircraft purchases, reliable sources said.