KLCCP’s sukuk programme upsized to RM4 bil

KUALA LUMPUR (April 27): KLCCP Stapled Group’s (KL:KLCC) sukuk programme has been upsized to RM4 billion from RM3 billion.

The upsize, together with a revision in certain terms and conditions, has been lodged with the Securities Commission Malaysia on April 17, according to its bourse filing on Friday.

The upsize and revision took effect on April 16 this year, and will be applicable to all outstanding and subsequent sukuk murabahah issuances. The issuer of the programme, which has a perpetual tenure, is its special purpose vehicle, Midciti Sukuk Bhd.

Following the upsize, a RM500 million tranche was issued on Friday. It carries a 10-year tenure with an annual profit rate of 3.86%. Proceeds will be used to refinance its outstanding sukuk murabahah of RM500 million, maturing on Friday.

The sukuk murabahah programme has a long-term rating of AAA/Stable by RAM Rating Services Bhd. The programme was initially established in April 2014.

Units in KLCCP ended two sen or 0.22% higher at RM9.17, valuing it at RM16.6 billion.

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