OTHERS V.S. INDUSTRY BERHAD ("VSI" OR THE "COMPANY") - ISSUANCE OF ISLAMIC MEDIUM TERM NOTES (SUKUK WAKALAH) OF RM500.0 MILLION IN NOMINAL VALUE BY VS CAPITAL MANAGEMENT SDN BHD AND GUARANTEED BY THE COMPANY, PURSUANT TO AN ISLAMIC MEDIUM TERM NOTES PROGRAMME OF UP TO A LIMIT OF RM1.0 IN NOMINAL VALUE BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR (SUKUK WAKALAH PROGRAMME)
| V.S. INDUSTRY BERHAD |
| Type | Announcement | ||||||||||||||||||
| Subject | OTHERS |
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| Description | V.S. INDUSTRY BERHAD ("VSI" OR THE "COMPANY") - ISSUANCE OF ISLAMIC MEDIUM TERM NOTES (SUKUK WAKALAH) OF RM500.0 MILLION IN NOMINAL VALUE BY VS CAPITAL MANAGEMENT SDN BHD AND GUARANTEED BY THE COMPANY, PURSUANT TO AN ISLAMIC MEDIUM TERM NOTES PROGRAMME OF UP TO A LIMIT OF RM1.0 IN NOMINAL VALUE BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR (SUKUK WAKALAH PROGRAMME) |
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On 8 July 2022, VSI has announced that its wholly owned subsidiary, VS Capital Management Sdn Bhd (“VSCM”) made a lodgement with the Securities Commission Malaysia (“SC”) for the establishment of the Sukuk Wakalah Programme.
VSCM, has on 21 September 2022, successfully issued the Sukuk Wakalah in aggregate of RM500.0 million in nominal value (“Sukuk Issuance”) from its Sukuk Wakalah Programme, with the following salient terms:
The Sukuk Wakalah issued under the Sukuk Wakalah Programme has been assigned a credit rating of “AAIS(CG)” with a stable outlook by MARC Ratings Berhad and the proceeds from the Sukuk Issuance shall be utilised by VSCM for, inter alia, working capital requirements, capital expenditure, general corporate purposes of VSI and its subsidiaries from time to time (the “Group”), refinancing of existing borrowings or financings of the Group, provision of Islamic intercompany financing to VSI and the subsidiaries within the Group, and to defray costs and expenses relating to establishment of the Sukuk Wakalah Programme and the issuance of the Sukuk Wakalah.
HSBC Amanah Malaysia Berhad is the Sole Lead Manager for the Sukuk Issuance. |
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Announcement Info
| Company Name | V.S. INDUSTRY BERHAD |
| Stock Name | VS |
| Date Announced | 21 Sep 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21092022-00025 |