Air Selangor Successfully Completes its Inaugural Sukuk Murabahah Issuance Raising MYR 1.15 Billion

In a statement issued on the 23rd of December 2020, Pengurusan Air Selangor (Air Selangor) announced the successful completion of its inaugural issuances under its recently established Sukuk Murabahah Programme. These consist of a 30-year Islamic Medium-Term Notes (IMTN) programme and a 7-year Islamic Commercial Papers (ICP) issuances, with a maximum combined limit of MYR 10 billion in nominal value.

In relation to the Sukuk Murabahah programme, the company reported that it had raised MYR 50 million through the ICP issuance and MYR 1.1 billion from the IMTN issuance across four tenures between three and ten years. Proceeds from the Sukuk Murabahah issuances will be used to finance capital expenditure and to meet working capital requirements, as well as for the refinancing of an...