KUALA LUMPUR: Maybank Investment Bank and United Overseas Bank (Malaysia) Bhd (UOB Malaysia) have been appointed as the underwriters and bookrunners, on an equal basis, for a RM2.0 billion Islamic facility granted to Malayan Cement Bhd
(MCB).
The facility will fund MCB’s acquisition of 10 companies in the cement and ready-mixed concrete sector in Malaysia from its parent company, YTL Cement Bhd, the banks said in a joint statement today.
The Islamic syndicated term financing facility is based on the Shariah principles of Commodity Murabahah.
MCB will use the Islamic facility to finance the cash consideration for the acquisition of the entire equity interest of the 10 companies and their respective subsidiaries (Acquiree Companies) from YTL Cement for a total consideration estimated at RM5.2 billion.
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