KUALA LUMPUR (Feb 14): DiGi.Com Bhd is establishing two Murabahah sukuk programmes with a combined limit of RM5 billion in nominal value, to raise funds for capital expenditure and working capital.

In a bourse filing today, DiGi said the debt papers will be issued via 15-year Islamic medium term notes (IMTN), which will have up to RM5 billion in nominal value, and 7-year Islamic commercial papers (ICP), with up to RM1 billion in nominal value.  

The IMTN has been rated AAA/Stable by rating agency RAM Rating Services Bhd, with the ICP being rated P1, said DiGi.

“The first issuance of the IMTN and ICP shall be made within sixty (60) business days from the date of lodgement of information and documents relating to the IMTN Programme and ICP Programme with the Securities Commission Malaysia (SC), as required under the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework,” it said.

It obtained acknowledgement from the SC on the lodgment of the sukuk programmes today.

“DiGi’s sukuk programme allows us to tap on opportunities in the debt capital market with wider and diverse base of investors, to strengthen our capital base and for more efficient funding cost.

“We plan to use the funds for investing in data and digital growth opportunities, deliver the best 4Gplus and internet network, and digitisation of core business, invest in strategic assets and future spectrum obligations, and other working capital needs,” the group said in a separate statement.

“DiGi remains committed to drive sustainable shareholders returns, and maintain strong balance sheet with net debt to earnings before interest, tax, depreciation and ammortisation (EBITDA) managed below two times in the next 3 years,” it added.

On Tuesday’s market close, DiGi’s shares slid 0.39% or 2 sen to RM5.09, valuing the company at RM39.58 billion.