Eco World Capital Issues MYR 180 Million Sukuk with Five-year Tenure

Malaysian-based Eco World Capital Services, under the Eco World Development Group (Eco World Malaysia), has issued MYR 180 million Sukuk Wakalah with a five-year tenure, on the 24th of March 2021 according to a Bursa Malaysia announcement.

Why it Matters?

The Sukuk issuance falls under Eco World’s MYR 500 million Sukuk Wakalah Programme in nominal value, which is unrated and secured by the corporate guarantee by Eco World Malaysia. Proceeds of the Sukuk issuance would be used to repay several existing borrowings within the group, for working capital requirements of Eco World Malaysia and its subsidiaries, as well as for general corporate purposes. In addition, proceeds will be used to refinance existing financi...