By William Gullotti
Buffalo, N.Y., March 27 – JB Foods Ltd. completed the third issuance of sukuk wakalah under JB Cocoa Sdn. Bhd.’s sukuk wakalah program on March 18 in the form of RM 100 million 5.9% three-year notes, according to an announcement.
The offering was initially proposed for up to RM 500 million.
AmInvestment Bank Bhd. is the principal adviser, lead arranger and lead manager for the overarching program.
Proceeds from the issue will be used for capital expenditures, refinancing existing borrowings and other general corporate purposes.
JB is a Malaysian producer of cocoa and cocoa products.
| Issuer: | JB Foods Ltd.
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| Amount: | RM 100 million
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| Issue: | Sukuk wakalah, medium-term notes
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| Maturity: | March 18, 2027
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| Lead manager: | AmInvestment Bank Bhd.
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| Distribution rate: | 5.9%
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| Issue date: | March 18
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