LBS Bina Group Bhd has issued a RM130 million perpetual Sukuk Musharakah to, among others, refinance its financing and borrowings, as well as fund its capital expenditure and asset acquisition.
In a filing with Bursa Malaysia yesterday, the property developer said the sukuk would also be used for working capital, general corporate purposes and to defray fees, costs and expenses in relation to the issuance of the Perpetual Sukuk Musharakah and the Perpetual Sukuk Musharakah Programme.
It said the sukuk represents the first tranche of its RM700 million Perpetual Sukuk Musharakah Programme with a tenor of perpetual non-callable five years and an initial periodic distribution rate of 6.8% per annum.
“RHB Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the Perpetual Sukuk Musharakah Programme,” it added.
Source EdgeProp