KUALA LUMPUR, March 24 — Sime Darby Bhd has raised RM2.2 billion from the issue of a perpetual non-call 10-year subordinated sukuk to largely refinance its debt obligations
President and Group Chief Executive Tan Sri Mohd Bakke Salleh said the perpetual sukuk was part of the company's deleveraging efforts and it is the first globally based on shariah principle of Wakalah.
“We are encouraged by the strong support shown by investors and this also indicates the market’s continued confidence in Sime Darby,” he said in a statement today.
The sukuk offering was over 1.8 times oversubscribed from its initial target, allowing Sime Darby to upsize and price the offering at the final yield of 5.65 per cent per annum.
As at mid-day break, Sime Darby's share price was four sen lower at RM7.95 with 471,500 units transacted.
( Malay Mail Online / 24 March 2016)---
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