Sime Darby Property has announced that it successfully issued RM600 million in nominal value of Sukuk Musharakah under the Sukuk Musharakah Programme. The Sukuk Musharakah Programme’s rating of AA+IS has been affirmed by MARC Ratings Berhad with a stable outlook.
The Sukuk Issuance is the second issuance under the Sukuk Musharakah Programme, comprising of Asean Sustainability SRI Sukuk Musharakah with 3-year tenor of RM200 Million., Sukuk Musharakah with a 5-year tenor of RM300 million, Sukuk Musharakah with 7-year tenor of RM100 million.
SDP said the proceeds will be utilised to finance future investments or capital expenditure including working capital requirements and general corporate purpose. It will also if required, refinance the debt obligations of Sime Darby Property Group.
The proceeds from the issuance of the ASEAN Sustainability SRI Sukuk Musharakah however will be utilised for the purposes set out above provided that it shall meet the criteria as set out in its Sustainability Sukuk Framework.
Maybank IB is the sole Principal Adviser and Lead Arranger for the Sukuk Musharakah Programme. CIMB Investment Bank Berhad, Maybank IB and Public Investment Bank Berhad are the Joint Lead Managers for the Sukuk Issuance.
