George Kent submits RM600mil Sukuk plan

TheStar Thu, Jan 14, 2021 06:40pm - 3 years View Original


KUALA LUMPUR: George Kent (M) Bhd has submitted a plan to raise RM600mil via the issuance of Islamic debt papers.

Proceeds from the proposed Sukuk Wakalah programmes will be utilised to fund investments, capital expenditure and refinance existing borrowings, the water meter maker and rail engineering firm said.

George Kent said it is planning to raise up to RM100mil by issuing seven-year Islamic commercial papers.

It is looking to raise another RM500mil by issuing Islamic medium term notes (IMTNs) the IMTNs will have a 30-year tenure from the date of the first issue.

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