AirAsia subsidiary plans up to RM 500 million of bank-guaranteed sukuk

By Laura Lutz

Des Moines, April 28 - AirAsia Bhd. said its subsidiary, Aras Sejagat Sdn Bhd., plans to issue up to RM 500 million of bank-guaranteed sukuk with maturities of up to five years.

Bank Islam Malaysia Bhd. and Kuwait Finance House (Malaysia) Bhd. are the joint principal advisers, joint lead arrangers and joint lead managers for the issue.

Kuwait Finance House (Malaysia) is the guarantor. Bank Islam Malaysia, Bank Kerjasama Rakyat Malaysia Bhd. and Kuwait Finance House are the joint lead arrangers for the bank guarantee facility.

Proceeds will be used for the capital expenditures and working capital for AirAsia.

The sukuk has been assigned a long-term rating of AA+(bg) by Malaysia Rating Corp. Bhd., AirAsia said.

AirAsia is an airline with headquarters in Sepang, Malaysia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.