APM AU­TO­MO­TIVE TO IS­SUE RM1.5B SUKUK

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: APM Au­to­mo­tive Hold­ings Bhd has pro­posed to es­tab­lish an Is­lamic com­mer­cial pa­pers (ICPs) and Is­lamic medium-term notes (IMTNs) pro­grammes of up to RM1.5 bil­lion un­der the syariah prin­ci­ple of muraba­hah (via Tawar­ruq ar­range­ment). The ICP and IMTN pro­grammes shall have a ten­ure of seven years and 20 years from the date of first is­sue from the re­spec­tive pro­grammes. “The pro­ceeds from the is­suance of the sukuk muraba­hah shall be utilised by the com­pany for gen­eral cor­po­rate pur­poses and to re­fi­nance fu­ture fi­nanc­ing (in­clud­ing fu­ture util­i­sa­tion of ex­ist­ing fi­nanc­ings) of APM and its sub­sidiaries,” APM said in a stock ex­change fil­ing yes­ter­day.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.