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Malaysia’s FGV Holdings Issues First Tranche of Sukuk Murabahah Programme

Malaysia’s FGV Holdings Issues First Tranche of Sukuk Murabahah Programme

January 10, 2022 | Updated at January 10, 2022

http://islamicmarkets.com/articles/malaysia-s-fgv-holdings-issues-first-tranche-of-sukuk-murabahah-programme
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By IM Insights

Malaysian-based agri-business FGV Holdings Bhd (FGV) has made the first issuance of its MYR 500 million (USD 118.78 million) Sukuk Murabahah Programme on the 31st of December 2021.

Why it Matters?

The utilisation of the proceeds of the programme shall always be for Shariah-compliant purposes and will refinance FGV's existing financing or borrowing.

Details

The Sukuk issuance will not affect the issued and paid-up share capital of FGV and/or the shareholding in FGV.After receiving an endorsement from the Securities Commission Malaysia's (SC) Shariah Advisory Council for the programme on the 10th of December 2021, FGV lodged with SC in December 2021 to establish the Sukuk programme.The tenure of the Sukuk programme would...