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BackDec 10, 2018
Type Announcement
Subject OTHERS
Description

LODGEMENT OF AN UNRATED SUKUK MURABAHAH PROGRAMME OF UP TO RM500.0 MILLION IN NOMINAL VALUE UNDER THE SHARIAH PRINCIPLE OF MURABAHAH (VIA TAWARRUQ ARRANGEMENT)

Kumpulan Perangsang Selangor Berhad (“KPS” or “Company”) is pleased to announce that  Perangsang Capital Sdn. Bhd (“Perangsang Capital”), a wholly owned subsidiary of the Company had on 10 December 2018 made a lodgement to the Securities Commission Malaysia (“SC”) for the establishment of an unrated Islamic medium term notes programme of up to RM500.0 million in nominal value under the Shariah principle of Murabahah (via Tawarruq arrangement) (“Sukuk Murabahah Programme”) and the issuance of Islamic medium term notes thereunder (“Sukuk Murabahah”), pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.

The Sukuk Murabahah Programme has a tenure of up to fifteen (15) years from the date of first issuance of the Sukuk Murabahah under the Sukuk Murabahah Programme. The Sukuk Murabahah Programme shall be unrated.

 

The proceeds from the issuance of the Sukuk Murabahah shall be utilised for Shariah-compliant purposes as follows:-

 

i.   to advance to KPS and/or KPS’s subsidiary companies via a Shariah-compliant arrangement for general corporate purposes and/or refinancing of existing/future

     borrowings/financing;

ii.   to meet any finance service obligation under the Sukuk Murabahah Programme;

iii.  to refinance any maturing Sukuk Murabahah issued under the Sukuk Murabahah Programme; and/or

iv.  to defray expenses incurred in relation to the Sukuk Murabahah Programme.

 

Maybank IB is the Principal Adviser, Lead Arranger and Lead Manager for the Sukuk Murabahah Programme.

 

This announcement is dated 10 December 2018.

 

 





Announcement Info

Company Name KUMPULAN PERANGSANG SELANGOR BERHAD
Stock Name KPS
Date Announced 10 Dec 2018
Category General Announcement for PLC
Reference Number GA1-10122018-00061