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Local

Gas Malaysia plans to raise RM700m via sukuk

KUALA LUMPUR (Oct 1): Gas Malaysia Bhd is proposing to raise up to RM700 million via Islamic debt papers to repay or refinance the borrowings of the group and to finance it’s working capital and capital expenditure.

It also plans to use the funds raised to finance present and future shariah-compliant investments.

In a bourse filing yesterday, Gas Malaysia said it plans to raise the funds via a seven-year Islamic Commercial Papers (ICP) Programme and a 10-year Islamic Medium Term Notes (IMTN) Programme.

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Source: The Edge Markets

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