IOI Properties raises RM1.2b via third sukuk issuance

PETALING JAYA: IOI Properties Group Bhd’s wholly-owned subsidiary Fortune Premiere Sdn Bhd has made its third Sukuk Murabahah issuance of RM1.2 billion in nominal value under its Sukuk Murabahah Programme.
Proceeds raised from the third issuance will be utilised for capital expenditure, working capital requirements, refinancing of existing borrowings and general corporate purposes.
The sukuk issuance consists of two tranches with an issue size of RM300 million and RM900 million each. The first tranche of RM300 million has a tenure of five years and 4.85% profit rate per annum, while the second tranche of RM900 million has a longer tenure of seven years and 5.05% profit rate per annum.
The joint lead managers for the third issuance are AmInvestment Bank Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd.
At the noon break, IOI Properties shares were down 4 sen 2.3% to RM1.73 on 110,500 shares done.