IOI Properties unit issues first sukuk tranche totalling RM100m

KUALA LUMPUR (Dec 21): IOI Properties Group Bhd's wholly-owned subsidiary Fortune Premiere Sdn Bhd (FPSB) has issued RM100 million sukuk to refinance its debt, fund its capital expenditure and for working capital.

The sukuk represents the first tranche in a RM3 billion Sukuk Murabahah programme that was established with a tenure of up to 15 years from the date of the first issuance.

FPSB had on Oct 17, 2017 lodged the relevant information and documents in relation to the sukuk programme with the Securities Commission Malaysia.

The five-year tranche bears profit rate of 4.65% per year, with a yield-to-maturity of 4.65% per year.

At 3.24pm, IOI Properties shares were up one sen or 0.56% at RM1.81, with 3.19 million shares done, bringing a market capitalisation RM10.02 billion. — theedgemarkets.com

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