KUALA LUMPUR (Dec 15): Sunway Bhd will set up a RM5 billion perpetual Islamic medium term note (IMTN) programme to finance its investment activities, capital expenditure and for working capital.

In a filing with Bursa Malaysia, Sunway said it has lodged the required information and relevant documents in relation to the sukuk programme, with Securities Commission Malaysia.

The first issuance of the IMTNs is expected by the first quarter of 2018.

Kenanga Investment Bank Bhd is the sole principal adviser, lead arranger and lead manager for the sukuk programme.

Sunway shares closed up 10 sen or 6.25% at RM1.70 today, bringing it a market capitalisation of RM8.36 billion. — theedgemarkets.com

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