Sime secures US$627.87m valid tenders

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