Serba Dinamik Holdings Confirms 30-Days Grace Period for Coupon Payment for Three-Year Sukuk

Malaysia-based Serba Dinamik Holdings (Serba Dinamik) confirmed a 30-day grace period from the due date to make the coupon payment on the USD 300 million Sukuk before triggering any dissolution event. The clarification was made in response to an article published in a local newspaper stating that Serba Dinamik had not made the payment on the due date.

Why it Matters?

The coupon payment for the USD-denominated Sukuk was due on the 9th of November 2021. Serba Dinamik has assured that the payment will be made within the grace period. The coupon payment value was noted as USD 7.0 million and not USD 9.4 million as had been stated in the newspaper article.

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