Uzma plans RM1 bil sukuk programme

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KUALA LUMPUR (July 27): Uzma Bhd’s wholly-owned subsidiary Uzma Integrasi Padu Bhd is issuing RM1 billion worth of Islamic Medium Term Notes (Sukuk Wakalah) with up to 15 years in tenure.

In a filing with Bursa Malaysia today, Uzma said Uzma Integrasi intends to use the fund raised from the unrated Sukuk Wakalah to refinance its outstanding financing facilities, fund its working capital and as capital expenditure for the general corporate purpose.

The proceeds will also be used for payment of all fees, costs, and expenses in relation to the Syariah principle of Wakalah Bi Al-Istithmar (Sukuk Wakalah Programme).

Uzma said Uzma Integrasi made a lodgment with the Securities Commission Malaysia today to establish the Sukuk Wakalah.

“The Sukuk Wakalah Programme serves as a funding platform for Uzma Group to raise funds to support its growing orderbook and for better asset-liability management,” it said.

Maybank Investment Bank Bhd is the sole principal adviser, sole lead arranger and lead manager for the programme.

Uzma shares closed two sen or 1.89% higher at RM1.08 today while 464,600 shares were traded, giving the group a market value of RM348.83 million.