Malaysia’s LBS Issues MYR 130 Million Sukuk Musharakah
March 31, 2020 | Updated at March 31, 2020
Email Malaysian property development company LBS Bina Group (LBS) has issued MYR 130 million worth Perpetual Sukuk Musharakah. This is the first tranche of LBS’ MYR 700 million Sukuk Program, which is set to mature in March 2120.
According to the IslamicMarkets Sukuk Monitor, the first tranche of the Sukuk carries a profit rate of 6.8%, with the first profit distribution due on the 30th of September 2020.
The proceeds from the issuance are expected to be utilized for LBS’s capital expenditure, refinancing of existing financing/borrowings, asset acquisitions, for working capital requirements and to defray fees, costs and expenses in relation to the issuance of the Perpetual Suku...
