SapuraKencana TMC issues up to RM3.6 billion sukuk
08 Mar 2017 / 05:40 H.
PETALING JAYA: SapuraKencana Petroleum Bhd’s wholly-owned subsidiary SapuraKencana TMC Sdn Bhd (SKTMC) has made further issuances of RM3.3 billion and US$74.8 million in nominal value of unrated sukuk murabahah under the multi-currency sukuk programme of up to RM7 billion.
In a filing with Bursa Malaysia yesterday, SapuraKencana said the proceeds raised from these issuances would be utilised to part refinance SKTMC’s existing financing.
“The unrated sukuk is structured based on the Shariah principle of commodity murabahah (via tawarruq arrangement),” it said. The oil and gas player made its first issuance of RM845.8 million sukuk under the multi-currency sukuk programme in September 2015.