Axiata Confirms USD 1 Billion Sukuk Issuance

Axiata Group (Axiata) has confirmed the issuance of Sukuk of up to USD 1 billion (MYR 4.26 billion), according to local media reports.

The Sukuk issuance is expected to be completed by August 2020, according to Datuk Izzadin Idris, Deputy Group Chief Executive Officer of Axiata, who was speaking at a press conference following Axiata’s annual general meeting held on the 29th of July 2020.

The issuance, which has been slated to be Malaysia’s largest corporate offering of Sukuk since 2015, is expected to be for a long-term period of between 10 to 30 years maximum. Izzadin stated that half of the funds raised from the Sukuk issuance would be used for refinancing purposes, as w...