Sunsuria plans RM500mil sukuk issuance

TheStar Thu, Oct 08, 2020 08:20am - 3 years View Original


Malaysian Rating Corp Bhd (MARC) has assigned a preliminary rating of A IS to Sunsuria’s proposal. The rating outlook is stable. (File picture shows Sunsuria at the Star Property fair.)

PETALING JAYA: Sunsuria Bhd has proposed to issue Islamic bonds of up to RM500mil to raise funds for capital expenditure and working capital.

The property developer told Bursa Malaysia that it has submitted the sukuk wakalah programme to the Securities Commission.

“The tenure of the programme shall be up to 30 years from the date of first issuance of the sukuk wakalah, ” it said.

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