By Marisa Wong
Madison, Wis., Nov. 19 - Golden Agri-Resources Ltd. announced that its wholly owned subsidiary, Golden Assets International Finance Ltd., issued RM 1.5 billion of five-year Islamic medium-term notes.
The notes were priced on a bought-deal basis bearing a profit rate of 4.35%.
OSK Investment Bank Bhd. and RHB Investment Bank Bhd. are the joint lead managers and joint underwriters.
This is the company's first issuance of Malaysian ringgit-denominated sukuk. As announced on Nov. 1, Golden Assets launched an up to RM 5 billion sukuk program with OSK Investment and RHB Investment as the joint principal advisers and joint lead arrangers.
According to a press release, Golden Assets entered into a transaction to swap the notes' proceeds into dollars.
Proceeds will be used for general corporate purposes.
RAM Rating Services Bhd. assigned an AA2(s) rating to the sukuk.
Golden Agri-Resources is a Singapore-based palm oil plantation company.
| Issuer: | Golden Assets International Finance Ltd.
|
| Issue: | Islamic medium-term notes
|
| Amount: | RM 1.5 billion
|
| Maturity: | November 2017
|
| Coupon: | 4.35%, payable semiannually
|
| Underwriters: | OSK Investment Bank Bhd. and RHB Investment Bank Bhd.
|
| Rating: | RAM Rating: AA2(s)
|
| Announcement date: | Nov. 19
|
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