By Marisa Wong
Madison, Wis., Feb. 24 - Maxis Bhd. issued RM 2.45 billion of Islamic medium-term notes on Friday, according to an announcement by CIMB Investment Bank Bhd.
The notes have a maturity of 10 years and a coupon of 5%, payable semiannually.
This is the first tranche of notes issued under the company's Islamic medium-term note program recently approved by the Malaysia Securities Commission. The sukuk program has a tenor of 30 years.
The company said it plans to use RM 1.45 billion of the proceeds to refinance existing loans and the remaining RM 1 billion for capital expenditures, working capital or general corporate purposes.
Maxis is a mobile communications operator based in Kuala Lumpur, Malaysia.
| Issuer: | Maxis Bhd.
|
| Issue: | Islamic medium-term notes
|
| Amount: | RM 2.45 billion
|
| Maturity: | 2022
|
| Coupon: | 5%, payable semiannually
|
| Settlement date: | Feb. 24
|
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