PBA Holdings Unit Files RM5 Bln Sukuk Wakalah With Securities Commission

KUALA LUMPUR, July 2 (Bernama) -- PBA Holdings Bhd’s wholly-owned subsidiary, Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP), has submitted the required documents to the Securities Commission Malaysia (SC) to set up an Islamic medium-term notes programme (sukuk wakalah) worth up to RM5 billion.

In a filing with Bursa Malaysia today, PBAHB said the issuer will utilise the proceeds from the sukuk wakalah programme for several shariah-compliant purposes.

“These include financing the working capital requirements, capital expenditures, investments, and other general corporate purposes of the issuer and its group of companies, as well as refinancing existing and future shariah-compliant financing and borrowings of the PBAHB group.

“The proceeds will also be used to defray fees, costs and expenses in relation to the establishment and issuance of the sukuk wakalah programme, and to refinance future maturing sukuk wakalah,” it added.

-- BERNAMA