KUALA LUMPUR (April 26): Malaysia Airports Holdings Bhd (MAHB) is to issue a combined RM800 million worth of Islamic medium-term notes (IMTN) on Wednesday (April 27), according to updates on the Bond and Sukuk Information Exchange's (BIX) website.

According to the BIX website, MAHB is to issue the combined RM800 million worth of IMTN in two tranches under its RM5 billion sukuk wakalah programme.

The two tranches of IMTN comprise a three-year RM500 million IMTN (maturing on April 25, 2025) and a five-year RM300 million IMTN (maturing on April 27, 2027), which respectively offer annual profit rates of 3.79% and 3.98%.

The two tranches of IMTN have been assigned a credit rating of "AAA" by RAM Rating Services Bhd, according to the BIX website.

In a prior statement on MAHB’s website, the group said proceeds from its RM5 billion sukuk wakalah programme are to be utilised for syariah-compliant purposes, which include working capital requirements, capital expenditure, general investments, other general corporate purposes, and refinancing of existing borrowings and future financing of MAHB.

“This landmark financing serves as a 'war chest' to support the group’s business growth plans and strategies moving forward,” MAHB said.

HSBC Amanah Malaysia Bhd and Maybank Investment Bank Bhd are joint principal advisers and joint lead arrangers for the sukuk wakalah programme.

Joint lead managers for the programme are HSBC Amanah, Maybank Investment Bank as well as RHB Investment Bank Bhd.