KUALA LUMPUR: DRB-HICOM Bhd will undertake an Islamic medium-term notes (sukuk) programme of up to RM1.8 billion.
In a filing to Bursa Malaysia today, the company said it has mandated Maybank Investment Bank Bhd as principal adviser, lead arranger and lead manager for the programme.
DRB-HICOM said Malaysian Rating Corp Bhd has assigned a preliminary rating of 'AA-IS' to the programme with a stable outlook.
"The tenure of the programme, which will be issued under the syariah principle of Murabahah via Tawarruq arrangement, is up to 15 years from the date of first issuance," it said.
The company said the proceeds from the programme would be used to finance working capital requirements; current and future projects; investments; capital expenditure; and, refinance borrowings.
It said the Securities Commission Malaysia had on Oct 31, 2011 approved the establishment of the programme. - BERNAMA
In a filing to Bursa Malaysia today, the company said it has mandated Maybank Investment Bank Bhd as principal adviser, lead arranger and lead manager for the programme.
DRB-HICOM said Malaysian Rating Corp Bhd has assigned a preliminary rating of 'AA-IS' to the programme with a stable outlook.
"The tenure of the programme, which will be issued under the syariah principle of Murabahah via Tawarruq arrangement, is up to 15 years from the date of first issuance," it said.
The company said the proceeds from the programme would be used to finance working capital requirements; current and future projects; investments; capital expenditure; and, refinance borrowings.
It said the Securities Commission Malaysia had on Oct 31, 2011 approved the establishment of the programme. - BERNAMA
