Eco World International Bhd has completed the second issuance of Sukuk Murabahah, worth RM350 million in nominal value, with a tenure of three years from the issue date under its unrated Islamic medium-term notes programme of RM800 million (Sukuk Murabahah Programme).
In a filing with Bursa Malaysia today, the group said proceeds raised from the issuance will be utilised for general corporate purposes, working capital requirements, as well as for future financing of EcoWorld International and its subsidiaries or joint ventures, and that utilisation of the proceeds would at all times be for Shariah-compliant purposes.
“For the avoidance of doubt, the utilisation of the proceeds of the Sukuk Murabahah will, at all times, be for Shariah-compliant purposes,” said Eco World.
CIMB Investment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the Sukuk Murabahah Programme.
Source New Straits Times