Kuala Lumpur: Cahya Mata Sarawak Bhd (CMS) has made its first issuance of sukuk amounting to RM500 million mainly for financing the capital expenditure and working capital requirements, which all shall be syariah-compliant.
The notes were issued with a tenure of five years under an Islamic medium term notes programme of up to RM2 billion, CMS said in a filing with Bursa Malaysia today
“The Sukuk Programme has been assigned a rating of AA3 by RAM Ratings,” said CMS.
CIMB Investment Bank Bhd and Kenanga Investment Bank Bhd are the Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers whilst CIMB Islamic Bank Bhd is the Sole Shariah Adviser to the Sukuk Programme.
Price of CMS shares dropped four sen to RM4.58 for a market capitalisation of RM4.92 billion.
Originally published on www.theedgemarkets.com