MR DIY Group (M) Bhd has completed its inaugural issuance under its RM5 billion Sukuk Wakalah programme, raising RM540 million through a combination of RM525 million Islamic Medium-Term Notes (IMTN) and RM15 million Islamic Commercial Papers (ICP).
The proceeds will be used for refinancing existing borrowings, working capital needs, capital expenditure and general corporate purposes, supporting the retailer’s expansion and balance sheet optimisation.
The IMTN and ICP were assigned credit ratings of AA1/Stable and P1 respectively by RAM Rating Services Bhd, reflecting strong financial capacity to meet obligations.
Investor demand was robust, with demand coming from a broad base of institutional investors including pension funds, statutory bodies, asset managers, takaful and insurance firms, and financial institutions.
Its Chief Executive Officer Adrian Ong said the strong response reflected investor confidence in the group’s fundamentals and growth strategy, noting that the issuance was priced lower than its existing borrowings.
He added that the sukuk marks the company’s entry into the Islamic capital market, strengthening its funding structure and providing greater financial flexibility for future expansion.
The issuance was jointly led by CIMB Investment Bank Bhd, Hong Leong Investment Bank Bhd and Maybank Investment Bank Bhd.
