Eco World establishes RM2bil rated perpetual sukuk wakalah programme
The entire RM2.0 billion programme is guaranteed by EcoWorld and has been assigned a final credit rating of A IS(CG) with a stable outlook by MARC Ratings Bhd.
The company noted that the subsidiary has also successfully completed the first issuance under the programme, raising RM800.0 million, according to a filing with Bursa Malaysia today.
The proceeds from the RM800.0 million Perpetual Sukuk issuance will be utilised by EcoWorld and its group entities for working capital requirements, investments, acquisitions and capital expenditures; refinancing or repayment of existing debt or future Shariah-compliant financing; and/or general corporate purposes, it said.
"The RM800.0 million Perpetual Sukuk Issuance comprises two tranches. Tranche 1, totalling RM550.0 million, was issued on a perpetual basis and non-callable for seven years with the first optional redemption date after seven years.
"Tranche 2 amounts to RM250.0 million, issued on a perpetual basis and non-callable for 10 years, with the first optional redemption date after 10 years,' it added. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
5 hours ago
- The Star
EcoWorld unveils RM2bil sukuk plan
KUALA LUMPUR: Eco World Development Group Bhd 's wholly-owned subsidiary, Eco World Perpetual Capital Bhd, has established a rated perpetual sukuk wakalah programme with a nominal value of RM2bil. The programme is guaranteed by EcoWorld and has been assigned a final credit rating of A IS(CG) with a stable outlook by MARC Ratings Bhd. The subsidiary had also completed the first issuance under the programme, raising RM800mil, according to a filing with Bursa Malaysia yesterday. — Bernama
The Star
13 hours ago
- The Star
Eco World establishes RM2bil rated perpetual sukuk wakalah programme
KUALA LUMPUR: Eco World Development Group Bhd 's wholly-owned subsidiary, Eco World Perpetual Capital Bhd, has established a rated Perpetual Sukuk Wakalah Programme with a nominal value of RM2.0 billion. The entire RM2.0 billion programme is guaranteed by EcoWorld and has been assigned a final credit rating of A IS(CG) with a stable outlook by MARC Ratings Bhd. The company noted that the subsidiary has also successfully completed the first issuance under the programme, raising RM800.0 million, according to a filing with Bursa Malaysia today. The proceeds from the RM800.0 million Perpetual Sukuk issuance will be utilised by EcoWorld and its group entities for working capital requirements, investments, acquisitions and capital expenditures; refinancing or repayment of existing debt or future Shariah-compliant financing; and/or general corporate purposes, it said. "The RM800.0 million Perpetual Sukuk Issuance comprises two tranches. Tranche 1, totalling RM550.0 million, was issued on a perpetual basis and non-callable for seven years with the first optional redemption date after seven years. "Tranche 2 amounts to RM250.0 million, issued on a perpetual basis and non-callable for 10 years, with the first optional redemption date after 10 years,' it added. - Bernama
Barnama
14 hours ago
- Barnama
Eco World Establishes RM2.0 Bln Rated Perpetual Sukuk Wakalah Programme
BUSINESS KUALA LUMPUR, Aug 20 (Bernama) -- Eco World Development Group Bhd's wholly-owned subsidiary, Eco World Perpetual Capital Bhd, has established a rated Perpetual Sukuk Wakalah Programme with a nominal value of RM2.0 billion. The entire RM2.0 billion programme is guaranteed by EcoWorld and has been assigned a final credit rating of A IS(CG) with a stable outlook by MARC Ratings Bhd. The company noted that the subsidiary has also successfully completed the first issuance under the programme, raising RM800.0 million, according to a filing with Bursa Malaysia today. The proceeds from the RM800.0 million Perpetual Sukuk issuance will be utilised by EcoWorld and its group entities for working capital requirements, investments, acquisitions and capital expenditures; refinancing or repayment of existing debt or future Shariah-compliant financing; and/or general corporate purposes, it said. 'The RM800.0 million Perpetual Sukuk Issuance comprises two tranches. Tranche 1, totalling RM550.0 million, was issued on a perpetual basis and non-callable for seven years with the first optional redemption date after seven years. 'Tranche 2 amounts to RM250.0 million, issued on a perpetual basis and non-callable for 10 years, with the first optional redemption date after 10 years,' it added. -- BERNAMA
