IOI Properties Completes RM1 Bln Sukuk Murabahah Issuance

KUALA LUMPUR, Sept 4 (Bernama) -- IOI Properties Group Bhd’s (IOIPG) wholly-owned subsidiary Fortune Premiere Sdn Bhd has completed its seventh issuance of sukuk murabahah amounting to RM1 billion in nominal value under its existing multi-currency Islamic medium term note programme of up to RM3 billion.

In a filing with Bursa Malaysia today, the company said the latest issuance comprise three tranches.

Tranche 9 has a nominal value of RM150 million, a tenure of seven years and a profit rate of 3.79 per cent.

Tranche 10 has a nominal value of RM300 million, a 10-year tenure and a profit rate of 3.85 per cent.

Meanwhile, Tranche 11 has a nominal value of RM550 million, a 15-year tenure and a profit rate of 4.04 per cent.

IOIPG said proceeds raised from this issuance will be used by the company or its subsidiaries for Shariah-compliant purposes, including capital expenditure, working capital requirements, refinancing of existing borrowings, and general corporate purposes.

The joint lead managers for the seventh issuance are AmInvestment Bank Bhd, Maybank Investment Bank Bhd, and RHB Investment Bank Bhd.

-- BERNAMA