Published: Thursday August 5, 2010 MYT 2:29:00 PM
MAHB plans RM3.1bil Islamic bonds
KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) plans to offer up to RM3.1bil in Islamic bonds to part finance the construction of a new terminal.
The new terminal is expected to be completed by the end of the first quarter of 2012.
In a filing to the stock exchange today, MAHB said the proceeds would also be used to refinance its existing borrowings/financings which were utilised for Shariah-compliant purposes and/or for MAHB’s Shariah-compliant general corporate purposes.
The Islamic bond offering which will consist of Islamic Commercial Papers (ICP) and Islamic Medium Term Notes (IMTN) will be undertaken via wholly-owned subsidiary, Malaysia Airports Capital Bhd.
The ICP and the IMTN have been accorded a preliminary short-term rating of P1 and a preliminary long-term rating of AAA (with stable outlook) respectively by RAM Rating Services Bhd.
CIMB Investment Bank Bhd and Citibank Bhd have been appointed the joint principal advisers, joint lead arrangers and joint lead managers for the issue.