Malaysia’s OSK Holdings launches up to RM 1.8 billion sukuk program

By Marisa Wong

Morgantown, W.Va., March 9 – Malaysia’s OSK Holdings Bhd. established an up to RM 1.8 billion Islamic medium-term note program, according to a Bursa Malaysia announcement.

Wholly owned subsidiary OSK I CM Sdn. Bhd. will be the issuer.

Maybank Invesment Bank Bhd. and RHB Investment Bank Bhd. are the joint lead arrangers for the sukuk program.

The program will have a perpetual tenor, but the sukuk issued under the program will not be perpetual.

The company said it may use proceeds for investments, capital expenditure, working capital, general corporate purposes and refinancing of existing borrowings.

OSK is a stockbroking firm based in Kuala Lumpur.

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