Yinson Holdings to Establish Sukuk Wakalah Programme of up to MYR 1 Billion

Malaysia-based investment holding company Yinson Holdings (Yinson) has lodged a filing with the Securities Commission Malaysia (SC) to establish a Sukuk Wakalah Programme of up to MYR 1 billion based on the Shariah principle of Wakalah Bi Al-Istithmar. According to a bourse filing dated 25th of October 2021, Yinson stated that the first issuance under the Sukuk Wakalah Programme would be made within 60 business days from the lodgement date of 22nd October 2021.

Why it Matters?

Proceeds raised from the issuance of Sukuk Wakalah under the Programme would be used to defray fees, costs and expenses related to the issuance of the Sukuk Wakalah and the Sukuk Wakalah Programme. In addition, proceeds would be used for working capital, refinancing of existing...