|
|
|
|
|
 |
|
|
|
Direct
access to top expatriate jobs in the Gulf with alJazeera Jobs
Quadruple your chance of landing your tax-free Gulf Job - Sign Up Now! |
|
Sukuk.net: CDL To Establish Singapore's Pioneer Islamic MTN Programme |
|
|
|
|
KUALA LUMPUR, Aug 21 (Bernama) -- City Developments Limited (CDL) Thursday announced it has appointed CIMBGK Securities Pte Ltd, a wholly-owned subsidiary of CIMB Group, as lead arranger of its proposed S$1 billion unsecured Islamic multi-currency medium term notes (Islamic MTN) programme.
CDL has also appointed CIMB-GK to act as dealer and lead manager of the first issuance of Sukuk (or trust certificates) under this programme in accordance with the Shariah financing principle of Ijarah, CDL and CIMB Group said in a statement.
Both the Islamic MTN programme and the Sukuk Ijarah represent pioneer corporate issues for Singapore's Islamic financial market.
CDL intends to apply to the Singapore Exchange Securities Trading Limited for permission to deal in and for the quotation of the first issuance of Sukuk Ijarah under this proposed Islamic MTN programme.
Kwek Leng Joo, Managing Director, CDL, said the company was honoured to be pioneering Singapore's first Islamic MTN programme which will allow it to tap new investors via an alternative financing stream and to enjoy a first-mover advantage.
He said while CDL currently had a healthy balance sheet with a relatively low gearing, this fund-raising exercise added another dimension to its financial strength and would further enhance its war-chest, enabling it to seize potential opportunities at the right time.
"We are proud CDL has entrusted us to structure, advise and distribute this ground breaking first Sukuk issuance under its Islamic MTN programme," said Datuk Mohd Shukri Hussin, Executive Director of Bumiputra-Commerce Holdings Bhd, the listed vehicle of CIMB Group.
"Our global Islamic banking and finance franchise, CIMB Islamic, is recognised as a pioneer in the field, advising on landmark issues like the worlds first Shariah-compliant exchangeable bonds and the largest sovereign Sukuk issue in the world," he added.
-- BERNAMA
Source: Bernama.com
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The content of this website does not constitute advice or a recommendation and should not be relied upon in making any decision relating to investments or any other matter. You should obtain professional advice before exercising any investment decisions or choices based on information featured in this website.
In no event shall Sukuk.me be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the Sukuk.me website or the information contained in it.
Sukuk.me is a global provider of Sukuk information and Sukuk market data.
|
|
|
|
|
|
|
