KUALA LUMPUR (Aug 15): Kuala Lumpur Kepong Bhd’s (KLK) 10-year Islamic medium term note (IMTN) issued under its multi-currency IMTN programme has received an overwhelming demand resulting in the upsizing of the transaction to RM1 billion from RM750 million.
In a joint statement by KLK and Maybank Investment Bank Bhd (Maybank IB), the IMTN was fixed at a coupon rate of 4% per annum, 20 basis points at the top end of the initial price guidance of 4.1% to 4.2%.
“With an order book which exceeded RM7 billion at one point, KLK was able to swiftly price its transaction within the same day of the launch,” the statement read.
CIMB Investment Bank Bhd and Maybank IB acted as joint principal advisers, joint lead arrangers, joint lead managers and joint book runners for the programme.
“The success of the bookbuilding exercise demonstrates KLK’s financial strength and leadership position as a premier global palm oil player,” said Maybank IB CEO Tengku Datuk Zafrul.
CIMB Investment Bank CEO Datuk Charon Wardini Mokhzani said KLK’s AA1-rated book building exercise achieved a new benchmark for high grade corporate sukuk issuance in Malaysia.
The IMTN was allocated to investors from financial institutions, asset management companies, insurance companies, corporations and government agencies.
This article appeared in The Edge Financial Daily, on Aug 15, 2012.
TOP PICKS BY EDGEPROP
Country Heights Kajang (Taman Bukit Impiana)
Country Heights, Selangor