UEM Sunrise completes new bond issuance
In a filing with Bursa Malaysia, UEM Sunrise said the programme, together with the company's existing Islamic commercial papers programme, had a combined aggregate limit of up to RM4bil and is structured based on the syariah principle of murabahah via tawarruq arrangement.
The property developer said the new IMTNs were issued in two tranches, comprising RM200mil with a tenure of 10 years maturing on July 30, 2035 and RM300mil with a tenure of 12 years maturing on July 30, 2037.
The proceeds from the IMTNs will be used, among others, for the company and its subsidiaries' syariah-compliant general corporate purposes including land bank and company acquisitions. — Bernama
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