WTK Unit Proposes RM1.0 Bln Sukuk Wakalah Programme
KUALA LUMPUR, Jan 20 (Bernama) -- WTK Holdings Bhd’s wholly-owned subsidiary, WTK Capital Sdn Bhd, has proposed an Islamic medium-term notes programme of up to RM1.0 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar (Sukuk Wakalah Programme).
WTK Holdings said the tenure of the Sukuk Wakalah Programme shall be up to 30 years from the date of first issuance of the Sukuk Wakalah.
“The first issuance of the Sukuk Wakalah under the Sukuk Wakalah Programme shall be made within 90 business days from the date of lodgement or such other timeframe as may be imposed by the Securities Commission Malaysia,” it said in a filing with Bursa Malaysia today.
The company said the programme allows for the issuance of Sukuk Wakalah from time to time, whereby each issuance may be either rated or unrated and is to be determined before the issuance of the Sukuk Wakalah.
Additionally, it said WTK Capital may issue the Sukuk Wakalah from time to time and the proceeds raised shall be utilised by WTK Holdings and its subsidiaries, except for subsidiaries involved in the food business operations, for the Shariah-compliant purposes, particularly capital expenditure, working capital, and general corporate purposes.
RHB Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the Sukuk Wakalah Programme.
-- BERNAMA