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Saturday December 22, 2012
SC approves UMW sukuk plan
PETALING JAYA: UMW Holdings Bhd’s proposed sukuk musharakah to raise up to RM2bil has been approved by the Securities Commission, a filing by Maybank Investment Bank Bhd on behalf of the company showed.
UMW has mandated Maybank Investment Bank and Standard Chartered Saadiq Bhd to act as the joint principal advisers, lead arrangers and lead managers for the proposed programme, the proceeds of which will be used to settle or redeem existing debt for working capital requirements and to refinance borrowings in whole or in part.
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