Malaysia’s AEON Credit to Raise MYR 1 Billion Through Sukuk Programme Undertaking

Malaysia’s AEON Credit to Raise MYR 1 Billion Through Sukuk Programme Undertaking

https://islamicmarkets.com/articles/malaysia-s-aeon-credit-to-raise-myr-1-billion-through-sukuk
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Malaysia-based AEON Credit Service (M) Berhad (AEON Credit) has made a lodgement with the Securities Commission (SC) Malaysia for the establishment of its MYR 1 billion (USD 211 million) nominally valued Islamic Commercial Papers (ICP) Programme, with the first Sukuk Wakalah issuance under the Programme expected to take place within 90 working days, as per a bourse filing.

Why it Matters?

Proceeds from the Sukuk would be utilised to fund disbursements to clients in the regular course of business and would also pay for Programme-related expenses as well as refinance any current and upcoming Islamic financing facilities.

Details

The sole principal adviser and sole lead arranger for the Programme is CIMB Investment Bank Berhad who,...