The property developer said the sukuk is being issued in two tranches.
KUALA LUMPUR (Nov 28): Eco World Capital Bhd, a wholly owned subsidiary of Eco World Development Group Bhd (KL:ECOWLD), has issued a RM300 million sukuk wakalah.
In a filing with Bursa Malaysia on Thursday, the property developer said the sukuk is being issued in two tranches.
“The first tranche of RM100 million has a tenure of three years, and the second tranche of RM200 million has a tenure of seven years,” said the parent company.
Proceeds from the sukuk would be utilised for working capital requirements and capital expenditure.
This includes land acquisitions, shariah-compliant investments, refinancing or repayment of any existing debt obligations or future shariah-compliant financing obligations, and general corporate purposes, it added.
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Source: EdgeProp.my
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