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Malaysia’s Taliworks entity gets go-ahead for RM 210 million of sukuk
By Marisa Wong
Madison, Wis., April 7 – Malaysia’s Taliworks Corp. Bhd. announced the planned issuance of RM 210 million of sukuk. The Securities Commission Malaysia approved the proposed sukuk on April 3, according to a Bursa Malaysia announcement.
The sukuk will be issued through Grand Sepadu (NK) Sdn. Bhd., formerly known as Jejak Melewar Sdn. Bhd., a joint venture company in which Taliworks has a 75% indirect equity interest.
Hong Leong Investment Bank Bhd. is the lead arranger for the sukuk.
Proceeds will be used to facilitate the rollover of an up to RM 200 million short-term syndicated bridge loan and for working capital purposes.
Taliworks is a public utilities conglomerate based in Kuala Lumpur. Grand Sepadu operates and maintains the concession of the New North Klang Straits Bypass Expressway.
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