AEON Credit Fully Redeems RM200 Mln Subordinated Sukuk

KUALA LUMPUR, March 12 (Bernama) -- AEON Credit Service (M) Bhd announced that it has fully redeemed its RM200 million subordinated sukuk today. 

In a filing with Bursa Malaysia, AEON Credit stated that the sukuk was issued on March 12, 2020, under a sukuk wakalah programme, which was upsized from RM2 billion to RM5 billion in nominal value.

According to its initial filing on March 12, 2020, the company noted that the subordinated sukuk had a 10-year maturity, with the first optional redemption date falling on the fifth anniversary of the issue date.

AEON Credit had established the sukuk programme to fund customer disbursements in its ordinary course of business, which involves providing consumer financing based on Shariah principles, as well as refinancing its existing loans.

-- BERNAMA