PETALING JAYA: Sunway Bhd
’s indirect wholly-owned subsidiary, Sunway South Quay Sdn Bhd (SSQ), has lodged with the Securities Commission (SC) the required information and relevant documents relating to an Islamic medium-term note of RM2bil in nominal value based on the syariah principle of Wakalah Bi Al Istithmar.
In a filing with Bursa Malaysia yesterday, Sunway said proceeds from the sukuk programme would be utilised to finance SSQ and its subsidiaries’ (SSQ Group) working capital, refinancing of its existing financings/borrowings and its general corporate purposes.
The proceeds will also be used to defray fees and expenses related to setting up the sukuk wakalah programme, and/or inter-company advances to Sunway and subsidiaries within the Sunway Group.
MARC Ratings Bhd has assigned a “Gold” impact assessment on SSQ’s sustainable finance framework.
Sunway said the sukuk wakalah programme gives SSQ flexibility to issue sukuk wakalah in compliance with a host of green, social and sustainability-linked initiatives and responsible investment guidelines, frameworks, standards or principles issued by the SC, the Asean capital markets forum and the International Capital Market Association.
HSBC Amanah Malaysia Bhd is the sole principal adviser, lead arranger, lead manager and bookrunner for the plan. — Bernama
