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Malaysia Airports completes RM 1 billion issue of 5¾% perpetual sukuk
By Marisa Wong
Madison, Wis., Dec. 15 – Malaysia Airports Holdings Bhd. clarified in a Bursa Malaysia announcement that it issued its RM 1 billion of perpetual subordinated sukuk on Monday.
Malaysia Airports previously announced that settlement would be on Dec. 4.
The company priced the perpetual sukuk with a periodic distribution rate of 5¾% on Dec. 3.
The sukuk are non-callable for 10 years.
As noted before, proceeds will be used for working capital requirements and general investments or to refinance any borrowings.
This is the company’s inaugural issue under its subordinated sukuk program. The company also has a senior sukuk program. The combined limit of both programs is RM 2.5 billion.
RAM Rating Services Bhd. assigned an AA2 rating to the sukuk.
The airport company is based in Sepang, Malaysia.
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