Axiata Group Bhd
(RM5.89/share)
Celcom prices RM5bil
sukuk; RM3bil issue draws strong demand
Celcom Axiata Bhd has successfully priced its sukuk issuance
of RM5bil in nominal value, of which RM3bil received a final book of RM10bil
via bookbuilding process. In a statement yesterday, Celcom said the RM3bil
sukuk attracted strong demand from asset management companies, financial
institutions, insurance companies and corporate organisations. The remaining
RM2bil was privately allocated to strategic investors in eight, nine and
10-year tranches.
Celcom said the RM5bil sukuk was the largest rated sukuk
murabahah issuance based on a tawarruq
arrangement in the Malaysian debt capital market to date. The sukuk was issued
through its unit Celcom Transmission (M) Sdn Bhd (CTX) and has been assigned a
preliminary rating of AAAIS with a stable outlook by Malaysian Rating Corp Bhd
(MARC). - Star Biz
Construction Sector
George Kent furnishes
RM51mil bank guarantee to Prasarana
George Kent (M) Bhd has furnished a bank guarantee of
RM50.88mil to Syarikat Prasarana Negara Bhd as the performance bond to
undertake the Ampang Light Rail Transit (LRT) contract. In a statement
yesterday, George Kent executive director Dr Cheong Thiam Fook said the payment
clearly debunked mischievous allegations that the company lacked the financial
muscle to undertake the 44-month national infrastructure project. We have the
necessary financing in place to complete the contract, on which preliminary
work has already started, he added. - Star Biz
Source: AmeSecurities
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