Singapore's Bumitama Agri sets up RM 2 billion sukuk program

By Marisa Wong

Madison, Wis., Jan. 21 - Bumitama Agri Ltd. has established an up to RM 2 billion Islamic medium-term note program. The company's board of directors announced that the Securities Commission of Malaysia approved the program on Jan. 10.

Maybank Investment Bank Bhd. and United Overseas Bank (Malaysia) Bhd. are the joint principal advisers and joint lead arrangers for the program. Maybank Investment Bank was also appointed as the facility agent, and Malaysian Trustees Bhd. will act as trustee.

The program has a tenor of 15 years.

Bumitama Agri is a Singapore-based palm oil and palm kernel producer with plantations in Indonesia.

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