KUALA LUMPUR (Dec 13): Diversified group Sime Darby Bhd (KL:SIME) has successfully issued the fifth tranche of its sukuk murabahah programme under its unrated Islamic commercial papers and medium-term notes, to raise RM200 million.
The sukuk was issued by its indirect wholly owned Sime Darby Enterprise Sdn Bhd, according to the group in a bourse filing with Bursa Malaysia on Friday. The sukuk murabahah will mature on Dec 11, 2030.
Sime Darby has so far raised RM4.5 billion under the programme via four issuances, with three tranches, with a nominal value of RM1.3 billion, issued just earlier this week.
The first tranche, at an issue size of RM3 billion in nominal value, was issued in December last year to partly finance the acquisition of UMW Holdings Bhd. That tranche had matured just this Wednesday on Dec 11.
The offerings are part of SDESB's RM10 billion unrated Islamic commercial papers (ICPs) and Islamic medium-term notes (IMTNs) programme, based on the shariah principle of murabahah, which is irrevocably and unconditionally guaranteed by Sime Darby.
Sime Darby said proceeds from the latest issuance will be allocated to shariah-compliant purposes, including working capital requirements, financing investments or acquisitions, and funding capital expenditures. The funds may also be used for other general corporate purposes.
Sime Darby’s shares closed two sen or 0.85% higher at RM2.37 on Friday, giving the group a market capitalisation of RM16.15 billion. Year-to-date, the stock has declined by 0.42%.