Sime se­cures US$627.87m valid ten­ders

New Straits Times - - Business -

KUALA LUMPUR: Sime Darby Bhd has se­cured US$627.87 mil­lion (RM2.73 bil­lion) worth of valid ten­ders from bond­hold­ers un­der its planned repurchase of US$800 mil­lion worth of sukuk.

Sime Darby’s US$800 mil­lion Is­lamic bonds com­prise two schemes of US$400 mil­lion each, which ma­ture in 2018 and 2023, re­spec­tively.

Yes­ter­day, Sime Darby told Bursa Malaysia the 2018 and 2023 sukuk ten­der of­fers ex­pired on Thurs­day.

Sime Darby said it re­ceived US$350.37 mil­lion worth of valid ten­ders for the 2018 sukuk. For the 2023 sukuk, it re­ceived valid ten­ders worth US$277.5 mil­lion.

“For the avoid­ance of doubt, the com­pany is un­der no obli­ga­tion to ac­cept for repurchase any or all of the 2018 (and 2023) sukuk ten­dered pur­suant to the 2018 of­fer.

“The ac­cep­tance for repurchase by the com­pany of any or all of the 2018 sukuk ten­dered pur­suant to the 2018 of­fer is at the sole and ab­so­lute dis­cre­tion of the com­pany, and any or all of the ten­ders may be re­jected by the com­pany for any rea­son,” said Sime Darby. Ooi Tee Ching

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