Business

Published: Thursday June 6, 2013 MYT 4:32:00 PM
Updated: Thursday June 6, 2013 MYT 5:41:30 PM

First Resources completes its RM600mil sukuk issuance


KUALA LUMPUR: First Resources Limited has completed its third ringgit-dominated sukuk issuance of RM600mil under its Sukuk Musharakah Programme of up to RM2bil.

The sukuk has a tenor of seven years and will mature on June 5, 2020 and proceeds will be used for general corporate purposes which are in compliance with shariah principles.

The company, listed on the Singapore Exchange issued the sukuk by a private placement with a distribution rate of 4.35% annually.

The oil palm firm said its third sukuk issuance will further strengthen its Malaysian presence in the global sukuk market.

RHB Investment Bank Bhd acted as the principal adviser and lead arranger for the programme.

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