#Flash* Sime Darby plans RM4.5b Islamic debt notes

KUALA LUMPUR: Sime Darby Bhd has proposed RM4.5 billion Islamic debt notes to finance its working capital requirements and also future investments and if required, refinance debt obligations.

Sime Darby said on Tuesday, Sept 29 it had proposed to undertake an Islamic medium term note programme of RM4.5 billion and an Islamic commercial paper/Islamic medium term note programme of RM500 million with a combined master limit of RM4.5 billion.

"The proceeds raised shall be utilised to finance SDB and its subsidiaries’ working capital requirements and general corporate purposes, and/or to finance future investments and/or capital expenditure and/or, if required, to refinance debt obligations (whether in whole or in part) of the group," it said.

Sime Darby said it had obtained the Securities Commission's approval for the programmes.