KUALA LUMPUR (Aug 26): Highway operator MEX II Sdn Bhd will defer its RM1.3 billion sukuk or Islamic bond principal and profit payments to Dec 31, 2021 following approval from bondholders, according to the bond’s facility agent CIMB Investment Bank Bhd.

In a filing with Bank Negara Malaysia’s (BNM) Fully Automated System for Issuing/Tendering (FAST) website yesterday, CIMB said the principal payment under tranche 1 of the Islamic medium term notes was due tomorrow (Aug 27, 2021), while the profit payments were due tomorrow (Aug 27, 2021) and Oct 29, 2021.

"As the facility agent of the sukuk Murabahah, we have been notified by the sukuk trustee that the extraordinary resolutions for: i) the principal under tranche 1 due on Aug 27, 2021; and ii) the profit payments due and payable on Aug 27, 2021 and Oct 29, 2021 — to be deferred to Dec 31, 2021 — have been passed by the sukukholders by way of a circular resolution.

"Please refer to the sukuk trustee's letter dated Aug 18, 2021 and Aug 24, 2021 for details,” CIMB said.

More to come