MAHB Upsizes Islamic Bond Issuance

Malaysia Airports Holdings Bhd (MAHB) said that it has upsized its Islamic bond or sukuk issuance to RM800 million from the initial target issue size of RM500 million under the group’s RM5 billion sukuk wakalah programme on robust demand for the firm’s securities.

In a filing with Bursa Malaysia, MAHB said it had issued the RM800 million bonds on Thursday in three tranches comprising RM475 million, RM225 million and RM100 million portions respectively.

MAHB said the bonds, which have tenures of between five and ten years, pay an annual profit rate of between 3.87%, 4.14% and 4.25% on a semi-annual basis.

It said that Senior Sukuk Wakalah issued under the Sukuk Wakalah Programme has been assigned a credit rating of “AAA ” with a stable outlook by RAM Rating Services Bhd.

The proceeds from the Sukuk Issuance shall be utilised by the MAHB group of companies for working capital requirements, capital expenditure, general investments, general corporate purposes, refinancing of existing borrowings or financings of MAHB group and/or defrayment of fees and expenses under the Sukuk Wakalah Programme, all of which shall be Shariah compliant.

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