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On behalf of the Board of Directors of MASTEEL, we are pleased to announce that the Company had on 8 November 2018 lodged with the Securities Commission Malaysia (“SC”) for the proposed establishment of the Sukuk Ijarah Programme under the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.

The tenure of the Sukuk Ijarah Programme is up to seven (7) years from the date of first issuance under the Sukuk Ijarah Programme.

Danajamin will issue a Kafalah Guarantee to guarantee the nominal value of Sukuk Ijarah issued (of up to nominal value of RM130 million) and one (1) profit / rental payment obligation. First issuance of the Sukuk Ijarah is expected to be for a period of up to five (5) years. Danajamin may at its discretion extend the tenure of the Kafalah Guarantee for a further period of two (2) years.

The proceeds from the issuance of the Sukuk Ijarah shall be used for refinancing, capital expenditure and general working capital requirements.

Kuwait Finance House (Malaysia) Berhad is the Principal Adviser / Lead Arranger, Lead Manager, Shariah Adviser and Facility Agent for the Sukuk Ijarah Programme.

This announcement is dated 8 November 2018.

 

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