Malaysia Marine launches RM 1 billion Islamic MTN program

By Marisa Wong

Madison, Wis., Sept. 26 – Malaysia Marine and Heavy Engineering Holdings Bhd. (MHB) announced a RM 1 billion Islamic medium-term note program.

The Securities Commission Malaysia approved the 15-year sukuk program on Friday, according to a Bursa Malaysia announcement.

Proceeds from notes issued under the program will be used for capital expenditure, working capital requirements and other general corporate purposes.

HSBC Amanah Malaysia Bhd. and Maybank Investment Bank Bhd. are the joint principal advisers, joint lead arrangers and joint lead managers. HSBC is also the coordinator of the program.

MHB is a marine and heaving engineering company based in Pasir Gudang, Johor, Malaysia.

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