Bermaz Auto Bhd, the official distributor of Mazda cars and spare parts in Malaysia, yesterday issued two sukuk wakalah programmes worth RM1bil. KUALA LUMPUR: Bermaz Auto Bhd, the official distributor of Mazda cars and spare parts in Malaysia, yesterday issued two sukuk wakalah programmes worth RM1bil. The sukuk comprises an Islamic seven-year commercial papers (ICPs) programme of RM500mil and an Islamic perpetual medium-term notes (IMTNs) programme of RM500mil. In a filing with Bursa Malaysia, the company said the first tranche of ICPs totalled RM100mil in nominal value with a tenure of six months, while the first tranche of IMTNs totals RM100mil in nominal value with three years tenure. “The proceeds may be utilised to refinance existing financing/debt obligations and any maturing sukuk wakalah and/or to finance working capital requirements, investments, acquisition, capital expenditure and general corporate purposes, ” it said. Bermaz said the ICPs and IMTNs were assigned ratings of “P1” and “AA3” respectively by RAM Rating Services Bhd. It said Hong Leong Investment Bank Bhd has been appointed the principal adviser, lead arranger and lead manager for the sukuk wakalah programmes. — Bernama
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