Share
- The property developer said the sukuk is being issued in two tranches.
KUALA LUMPUR (Nov 28): Eco World Capital Bhd, a wholly owned subsidiary of Eco World Development Group Bhd (KL:ECOWLD), has issued a RM300 million sukuk wakalah.
In a filing with Bursa Malaysia on Thursday, the property developer said the sukuk is being issued in two tranches.
“The first tranche of RM100 million has a tenure of three years, and the second tranche of RM200 million has a tenure of seven years,” said the parent company.
Proceeds from the sukuk would be utilised for working capital requirements and capital expenditure.
This includes land acquisitions, shariah-compliant investments, refinancing or repayment of any existing debt obligations or future shariah-compliant financing obligations, and general corporate purposes, it added.
Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!
TOP PICKS BY EDGEPROP
Seksyen 5, Petaling Jaya
Petaling Jaya, Selangor
Taman Komersial Pandan Indah
Ampang, Kuala Lumpur
Nusari Aman 2 @ Bandar Sri Sendayan
Seremban, Negeri Sembilan
