Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 6): Yinson Holdings Bhd will issue RM1 billion worth of five-year Islamic medium-term notes (IMTN) on Tuesday (Dec 7, 2021), which will pay an annual profit rate of 5.55% under the oil and gas support services provider's Wakalah Islamic bond or sukuk scheme, according to updates on the Bond and Sukuk Information Exchange's (BIX) website.

According to BIX, Yinson's RM1 billion IMTN, which mature on Dec 7, 2026, will make the scheme's first profit payment on June 7, 2022.
"[The] last profit payment date [will be on] Dec 7, 2026," said BIX.

Yinson had in a Bursa Malaysia filing on Oct 25, 2021 announced the establishment of the up to RM1 billion IMTN programme.

According to the filing, Yinson had on Oct 22, 2021 made a lodgement with the Securities Commission Malaysia (SC) to establish the Sukuk Wakalah programme based on the Shariah principle of Wakalah Bi Al-Istithmar, pursuant to the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.

Proceeds raised from the issuance will be used for Shariah-compliant purposes including Yinson's working capital and refinancing of the company's existing borrowings.

HSBC Amanah Malaysia Bhd is the sole principal adviser, lead arranger and lead manager for the Sukuk Wakalah programme, Yinson said.

Yinson's share price fell three sen or 0.55% at 2.33pm on Dec 6 to RM5.46 for a market value of about RM6.01 billion.

The company’s latest-reported number of issued shares stood at around 1.1 billion, according to Yinson's filing to Bursa Malaysia last Thursday (Dec 2, 2021).

Edited ByChong Jin Hun
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