PETALING JAYA: KPJ Healthcare Bhd has received the authorisation from the Securities Commission for the proposed Islamic commercial papers (ICP) and Islamic medium-term notes (IMTN) with a combined limit of up to RM1.5bil.
According to a filing with Bursa Malaysia, the authorisation was given to its wholly-owned subsidiary, Point Zone (M) Sdn Bhd, to establish the sukuk programmes that shall be utilised to refinance the outstanding amount under the existing ICP or IMTN programme of up to RM500mil issued by Point Zone or under a bridging loan facility of up to RM450mil.
The proceeds raised are also to finance the expansion and working capital requirements of the KPJ group’s healthcare and healthcare-related businesses.
The ICP programme shall have a tenure of seven years from the first issuance date while the IMTN programme shall have a tenure of 10 years from the first issuance date.
Affin Hwang Investment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers and joint lead arrangers for the sukuk programmes.
Originally published on www.thestar.com.my