The Board of PIB is pleased to announce that the Company has on the even date lodged the Information Memorandum with the Securities Commission (“SC”)  for the issuance of a Perpetual Islamic Notes under a Perpetual Islamic Notes issuance Programme of up to RM1.0 billion in nominal value, based on the Shariah Principle of Musharakah (“Perpetual Sukuk Musharakah Programme”).

The proceeds raised from the issuance of Perpetual Sukuk Musharakah Programme shall be utilised by PIB and its subsidiaries and associated companies for the following Shariah-compliant purposes:

(a) refinancing of existing financing/borrowings;

(b) capital expenditure;

(c) working capital;

(d) general corporate purposes; and/or

(e) defray fees, costs and expenses in relation to the issuance of the Perpetual Sukuk programme.

The Perpetual Sukuk Musharakah have been structured with a perpetual tenure with no fixed redemption date and the Issuer shall only have the right to redeem the Perpetual Sukuk Musharakah pursuant to the Redemption Events

Information and documents in relation to the Perpetual Sukuk Musharakah Programme including the Information Memorandum have been lodged with the SC pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework issued by the SC on 9 March 2015 and revised on 30 June 2020 (as amended from time to time).

None of the Directors and major shareholders of PIB and/or persons connected to them has any interest, whether direct or indirect, in the Perpetual Sukuk Musharakah Programme.

RHB Investment Bank Berhad is the Principal Adviser, Lead Arranger and Lead Manager for the Perpetual Sukuk Musharakah Programme.

This announcement is dated 7 July 2020.