In reference to the announcement by Amanat Lebuhraya Rakyat on the acquisition of highway concessions including from Gamuda back in April, the parties have informed the Exchange that they have mutually agreed to extend the Long Stop date up to 31 October.
Gamuda via HLIB has announced that each of the Concession Holding Company and ALR had via separate letters dated 3 agreed to the extension. The extention is to provide for the remaining Condition Precedent to be satisfied, which is the successful fund raised by ALR to make all payments required to be made to the respective Concession Holding Companies under the SSPAs.
Accordingly, the joint principal advisers, joint lead arrangers, and joint lead managers for ALR’s Sukuk Programme had recently announced on behalf of ALR that it has successfully priced its RM5.5 billion nominal value AAA-rated sukuk. As per the issued press release, the Remaining Condition Precedent is to be fully satisfied on the anticipated issuance of ALR’s Sukuk Programme, which is expected to be by mid-October 2022.
