Malaysia's Eversendai proposes RM 500 million seven-year sukuk program

By Marisa Wong

Madison, Wis., Jan. 7 - Eversendai Corp. Bhd. has proposed a RM 500 million Islamic medium-term note and commercial paper program.

The Securities Commission Malaysia approved the proposed sukuk on Jan. 4.

The company announced that it mandated Standard Chartered Saadiq Bhd. as lead arranger for the seven-year program.

Proceeds will be used for general corporate purposes or working capital requirements.

Eversendai is a construction company based in Rawang, Selangor, Malaysia.

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