GFM issues RM165m Islamic notes

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KUALA LUMPUR (Dec 21): GFM Services Bhd has issued Islamic medium term notes (IMTN) totalling RM165 million in nominal value under its RM300 million IMTN programme.

This sukuk tranche was issued by its wholly-owned subsidiary Dynasty Harmony Sdn Bhd, the integrated facilities management and consultancy services provider said in a stock exchange filing today.

The group said the latest notes have tenures of between 10 years and 14.5 years, and are transferable and tradable.

GFM Services said the proceeds from the latest sukuk will be used to finance the group's investment activities, capital expenditure, working capital requirements and other general corporate purposes, including repayment of any financing facilities.

RAM Ratings had on Dec 20 assigned a final AA3/stable rating to the RM165 million sukuk.