CelcomDigi Unit Proposes RM10 Bln Sukuk Murabahah Programme

KUALA LUMPUR, Oct 23 (Bernama) -- CelcomDigi Bhd’s wholly owned subsidiary, CelcomDigi Telecommunications Sdn Bhd (CelcomDigi Tel), has proposed to establish a Sukuk Murabahah programme of up to RM10 billion in nominal value to fund corporate requirements and refinancing.

CelcomDigi Tel has lodged the required information and relevant documents with the Securities Commission Malaysia under its lodge and launch framework, said CelcomDigi in a Bursa Malaysia filing today.

“The Islamic medium-term notes programme, which has a perpetual tenure, is based on the shariah principle of Murabahah via a Tawarruq arrangement.

“Proceeds will be used to finance capital expenditure, working capital, general funding requirements and general corporate purposes of the issuer, its subsidiaries and the CelcomDigi group,” it said.

The telco said the funds may also be used to refinance existing conventional borrowings or Islamic financing and future Islamic financing, including the redemption of outstanding Sukuk Murabahah issued under the programme.

Other uses include paying fees and expenses related to the programme’s establishment and sukuk issuances.

CelcomDigi stated that the proceeds from issuances under the programme will always be utilised for shariah-compliant purposes.

The programme, rated AAA by RAM Rating Services Bhd, also provides flexibility for the issuance of sustainability and sustainability-linked Sukuk Murabahah in compliance with relevant guidelines, frameworks, standards or principles.

AmInvestment Bank Bhd and CIMB Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the programme, while AmBank Islamic Bhd and CIMB Islamic Bank Bhd are the joint shariah advisers.

-- BERNAMA