Sime Darby Bhd has successfully signed Islamic programmes on Wednesday, where the proceeds from the Islamic Programmes will be use to the group acquisitions and capital expenditure, working capital requirements as well as to refinance certain debt obligations.
In a statement, lead arranger, Maybank Investment Bank Bhd, said it involved Islamic Medium-Term Note (IMTN) Programme of RM4.5 billion and Islamic Commercial Paper (ICP)/Islamic Medium Term Note Programme of RM500 million with a Combined Master Limit of RM4.500 billion.
The ICP/IMTN Programmes are collectively known as the Islamic Programmes.
Maybank president and chief executive officer, Datuk Seri Abdul Wahid Omar, said the financial group was proud to be working on this transaction to assist Sime Darby in meeting its medium- to long-term funding requirements.
He said the strength of the AAA-rated Islamic Programmes reflected Sime Darby's position as a leading conglomerate and the world's largest listed oil palm plantation group.
"We believe that the Islamic Programmes will inject into the Malaysian capital market with further depth and promote it in line with the government's initiative to propel Malaysia as a renowned global Islamic hub through the Malaysian International Islamic Financial Centre," he said.
He said investors would find the notes issued under the Islamic Programmes as a premier investment and a valuable contribution to their bond portfolio and investment strategy.
The Islamic Programmes are structured based on the widely-accepted Islamic finance principle of Musyarakah, which is popular with local and international capital market players.
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