Keyfield group CEO and executive director Datuk Darren Kee.
KUALA LUMPUR: Keyfield International Bhd has submitted the necessary information and relevant documents for its sukuk wakalah programme, with a nominal value of up to RM1bil, to the Securities Commission.
In a statement, Keyfield said the sukuk wakalah programme, based on the shariah principle of Wakalah Bi Al-Istithmar, has been assigned a long-term rating of AA3 with a stable outlook by RAM Rating Services Bhd.
The programme is structured with a tenure of 30 years, while each sukuk wakalah issued under it will have a tenure of one year or more.
The proceeds from the sukuk wakalah programme will be used to support Keyfield Group’s shariah-compliant activities, including investments, general corporate needs, capital expenses, working capital, and refinancing future financing if needed.
Keyfield intends to utilise the proceeds for oil and gas and non-oil and gas offshore works, and/or to support other maritime-related services.
Group chief executive officer and executive director Datuk Darren Kee Chit Huei said the sukuk wakalah programme enabled the group to access the debt capital market at competitive rates, ultimately enhancing shareholder returns by providing the flexibility to pursue new strategic investment opportunities at lower costs.
“This programme represents a balanced financing strategy, allowing us to optimise our debt management while diversifying our funding sources.
“The AA3 rating underscores our strong creditworthiness while upholding our conservative financial profile, which we consider essential for managing our group’s operations. We remain committed to prudently and carefully managing our business capital structure, ensuring we deliver lasting value to our stakeholders,” he added.
Maybank Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the programme, with Maybank Islamic Bhd acting as the shariah adviser.
