Friday 29 Mar 2024
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KUALA LUMPUR (Oct 22): Sime Darby Property Bhd said its RM4.5 billion Islamic bond or medium term notes scheme under the Sukuk Musharakah Programme had received a preliminary rating of AA+IS with a stable outlook from Malaysian Rating Corp Bhd (MARC), and that the financial instrument’s principal terms and conditions had been revised to be consistent with the Securities Commission Malaysia’s (SC) guidelines.

In a filing with Bursa Malaysia yesterday, Sime Darby Property said Sime Darby Bhd had novated the Sukuk Musharakah Programme to it since Sept 29, 2017.

"The principal terms and conditions of the Sukuk Musharakah Programme have been revised to, among others, incorporate terms allowing for the issuance of the sukuk musharakah under the Sustainable and Responsible Investment Sukuk Framework of the SC and/or the Asean Sustainability Bond Standards issued by the Asean Capital Markets Forum,” Sime Darby Property said.

Sime Darby Property said the revision also aims to incorporate the AA+IS rating of the sukuk and to be consistent with the SC’s requirements under the regulator’s guidelines for trust deeds.

"The revision of the principal terms and conditions of the Sukuk Musharakah Programme will be submitted to the SC within 14 business days of the effective date of the revision, prior to any issuance of sukuk musharakah under the Sukuk Musharakah Programme,” Sime Darby Property said.

Sime Darby Property said Maybank Investment Bank Bhd is the sole principal adviser and lead arranger for the sukuk.

At Bursa’s 12.30pm break today, Sime Darby Property's share price settled unchanged at 57 sen, which valued the company at about RM3.91 billion. Some 1.27 million shares changed hands.

Edited ByChong Jin Hun
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