Sime Darby Property Issues First MYR 800 Million Sukuk under MYR 4.5 Billion Sukuk Programme

Malaysian property developer, Sime Darby Property (SD Property) has announced its first issuance of Sukuk Musharakah under its MYR 4.5 billion Sukuk Musharakah Programme, with a total issue size of MYR 800 million on the 3rd of December 2020, according to local media reports.

In a Bursa Malaysia filing, the company stated that the Sukuk issuance was made up of MYR 150 million ASEAN Sustainability SRI Sukuk Musharakah with a tenure of five years, MYR 500 million Sukuk Musharakah with a seven-year tenure, as well as MYR 150 million Sukuk Musharakah with a tenure of 10 years.

Proceeds of the Sukuk Musharakah issuance are all Shariah-compliant and will be used to finance SD Property&rs...