Uzma to raise up to RM1b via sukuk

PETALING JAYA: Uzma Bhd proposes to raise up to RM1 billion through its Unrated Islamic Medium-Term Notes Programme.
The group told Bursa Malaysia that its wholly owned subdiary Uzma Integrasi Padu Bhd had on July 27 made a lodgement to Securities Commission Malaysia (SC) for the establishment of the programme based on the Shariah principle of Wakalah Bi Al-Istithmar under SC's Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.
The Sukuk Wakalah Programme has a tenure of 15 years.
Proceeds raised will be used for working capital requirements and capital expanditure as well as refinancing existing and future financing/borrowings.
"The Sukuk Wakalah Programme serves as a funding platform for Uzma group to raise funds to support its growing orderbook and for better asset-liability management," it said.
Maybank Investment Bank Bhd is the sole principal adviser / lead arranger / lead manager for the Sukuk Wakalah Programme.