TRIplc issues RM639m senior sukuk murabahah

PETALING JAYA: TRIplc Bhd's wholly-owned subsidiary TRIplc Medical Sdn Bhd (TMSB) has issued a RM639 million in nominal value of AA1 rated senior sukuk murabahah and made the first issuance of RM27 million in nominal value of an unrated junior sukuk murabahah.
In separate filings with Bursa Malaysia, TRIplc said the proceeds raised from both issuances will be used to, among others, part finance the financing and construction costs of the Teaching Hospital and Medical Academic Centre in Universiti Teknologi MARA (UiTM), Puncak Alam Campus.
The senior sukuk murabahah has a tenure of five years and up to 18 years from the date of issuance.
It is irrevocably and unconditionally guaranteed equally by Danajamin Nasional Bhd and Bank Pembangunan Malaysia Bhd for 48 months commencing from the date of issuance or upon issuance of certificate of acceptance by UiTM, whichever is earlier.
Meanwhile, the junior sukuk murabahah programme has a nominal value of up to RM150 million. The first issuance of junior sukuk murabahah has a tenure of 19 years.
Recall that TMSB, the government and UiTM entered into a 25-year concession to undertake the planning, design, development, construction, landscaping, equipping, installation, completion, testing and commissioning of the facilities and infrastructure of the Teaching Hospital and Medical Academic Centre in UiTM, by way of private finance initiative.
TRIplc's share price rose 3% to close at RM2.06, with a total of 599,600 shares traded, giving it a market capitalisation of RM141.61 million.