By Marisa Wong
Madison, Wis., Nov. 15 - Mudajaya Group Bhd. said its wholly owned subsidiary, Mudajaya Corp. Bhd., issued RM 360 million of Islamic medium-term notes on Thursday.
This is the first tranche issued under Mudajaya's Islamic MTN program announced in November.
The company launched the MTN program alongside an Islamic commercial paper program. The two programs have a combined limit of up to RM 1 billion, as previously announced.
CIMB Investment Bank Bhd. is the lead arranger for the sukuk programs. CIMB and OCBC Al-Amin Bank Bhd. are the joint lead managers.
RAM Ratings Services Bhd. assigned a long-term rating of AA3 to the notes program and a short-term rating of P1 to the paper program.
Mudajaya is a property developer based in Petaling Jaya, Malaysia.
| Issuer: | Mudajaya Corp. Bhd.
|
| Issue: | Islamic medium-term notes
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| Amount: | RM 360 million
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| Managers: | CIMB Investment Bank Bhd. (lead arranger), OCBC Al-Amin Bank Bhd.
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| Settlement date: | Jan. 23
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| Rating: | RAM Rating Services: AA3
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