Maxis Broadband Issues MYR 400 Million Worth of Sukuk under MYR 10 Billion Sukuk Programme in Two Series 

Malaysia-based Maxis Broadband Sdn Bhd (MBSB), the wholly-owned subsidiary of Maxis Berhad, has announced the issuance of two Sukuk series nominally valued at MYR 400 million (USD 89.5 million), under its MYR 10 billion (USD 2.2 billion) unrated Sukuk murabahah programme, as per a bourse filing on the 17th of August 2022.

Why it Matters?

Proceeds from the issuance will be used for working capital needs and capital expenditure of MBSB as well as to settle the purchase consideration relating to the acquisition of businesses and undertakings, inclusive of pertinent assets and liabilities from Maxis Mobile Sdn Bhd and Maxis Mobile Services Sdn Bhd, the target entities.

Details