SapuraKencana US$200m sukuk to be sold next week

PETALING JAYA: SapuraKencana Petroluem Bhd's wholly owned subsidiary, SapuraKencana TMC Sdn Bhd (SKTMC), will be launching its first sukuk offering of US$200 million under its multicurrency programme next week.
The first tranche of the US$200 million sukuk is scheduled to be launched on Sept 8 2015, it said in a statement yesterday.
Proceeds raised from the programme will be utilised to partly refinance SKTMC's existing financing.
Under the 30-year multi-currency sukuk programme, the company plans to raise up to RM7 billion.
"The initial tranche of the dollar sukuk to be launched marks the group's first unrated dollar offerings and further reaffirms our commitment in promoting shariah compliant financing.
"The successful launch of the sukuk will further optimize the group's capital structure and creates a benchmanrk for SapuraKencana's future issuance under this programme," president and group CEO Tan Sri Datuk Seri Shahril Shamsuddin said.
Meanwhile, Maybank grup president and CEO Datuk Abdul Farid Alias said the issuance will be the first unrated dollar sukuk to be raised onshore by the bank.
Maybank Investment Bank Bhd is the principal adviser, arranger and manager for the programme.