By Marisa Wong
Madison, Wis., June 5 – Malaysia’s Genting Plantations Bhd. announced that wholly owned subsidiary Benih Restu Bhd. completed its maiden sukuk issuance on Friday, issuing RM 1 billion of sukuk under its RM 1.5 billion sukuk program.
The 10-year sukuk carry a coupon of 4.62%.
Maybank Investment Bank Bhd. and OCBC Al-Amin Bank Bhd. are the joint lead arrangers for the sukuk program and, along with CIMB Investment Bank Bhd. and RHB Investment Bank Bhd., joint lead managers and joint bookrunners for the current issue.
Benih Restu will advance sukuk proceeds to Genting for operating expenses, capital expenditure, investment, refinancing, working capital requirements, general funding requirements and/or other general corporate purposes.
Genting Plantations is an oil palm plantation company and a subsidiary of Genting Bhd., a Kuala Lumpur-based investment holding and management company.
| Issuer: | Benih Restu Bhd.
|
| Issue: | Sukuk
|
| Amount: | RM 1 billion
|
| Maturity: | 10 years
|
| Coupon: | 4.62%
|
| Bookrunners: | Maybank Investment Bank Bhd., OCBC Al-Amin Bank Bhd., CIMB Investment Bank Bhd. and RHB Investment Bank Bhd.
|
| Settlement date: | June 5
|
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