KUALA LUMPUR: Danajamin Nasional Bhd is guaranteeing Mydin Mohamed Holdings Bhd’s 13-year RM350 million sukuk programme, increasing the amount of bonds backed to RM3.4 billion.
In a statement yesterday, Danajamin said the funds raised from Mydin’s Islamic medium-term notes programme will be used to finance the construction and development of three Mydin hypermarkets.
It said the development of the hypermarts is part of Mydin’s Entry Point Project under the government’s Economic Transformation Plan.
“The first tranche of the sukuk programme amounting to RM55 million was successfully issued today and fully subscribed,” it said in the statement.
It noted that this was Mydin’s maiden venture into the sukuk/bond market. The sukuk, with a seven-year tenure, was issued with a triple-A rating accorded by RAM Rating Services Bhd, it added.
CIMB Investment Bank Bhd was appointed principal adviser/lead arranger/lead manager for the sukuk programme .
So far, Danajamin has provided guarantees for RM3.4 billion of bond programmes for various sectors including utilities, plantations, retail, education and manufacturing.
Its largest deal so far is backing Ranhill Power Sdn Bhd’s RM500 million facility.
This article appeared in The Edge Financial Daily, December 1, 2011.
In a statement yesterday, Danajamin said the funds raised from Mydin’s Islamic medium-term notes programme will be used to finance the construction and development of three Mydin hypermarkets.
It said the development of the hypermarts is part of Mydin’s Entry Point Project under the government’s Economic Transformation Plan.
“The first tranche of the sukuk programme amounting to RM55 million was successfully issued today and fully subscribed,” it said in the statement.
It noted that this was Mydin’s maiden venture into the sukuk/bond market. The sukuk, with a seven-year tenure, was issued with a triple-A rating accorded by RAM Rating Services Bhd, it added.
CIMB Investment Bank Bhd was appointed principal adviser/lead arranger/lead manager for the sukuk programme .
So far, Danajamin has provided guarantees for RM3.4 billion of bond programmes for various sectors including utilities, plantations, retail, education and manufacturing.
Its largest deal so far is backing Ranhill Power Sdn Bhd’s RM500 million facility.
This article appeared in The Edge Financial Daily, December 1, 2011.
