KLCCP’s unit upsizes sukuk programme to RM2 bil, issues RM600 mil sukuk

• The programme has a perpetual tenure and has been accorded a long-term rating of AAA by RAM Rating Services Bhd, according to KLCCP.

KUALA LUMPUR (Dec 31): KLCC Property Holdings Bhd’s (KLCCP) (KL:KLCC) wholly owned unit Suria KLCC Sdn Bhd has upsized its sukuk murabahah programme to RM2 billion from RM600 million.

This came after the programme’s RM600 million issuance on Dec 31, 2014 matured on Tuesday, according to the group’s bourse filing.

On the same day, Suria KLCC issued a fresh RM600 million sukuk under the expanded programme. The newly issued sukuk has a tenure of 10.5 years with a profit rate of 4% per year.

Suria KLCC owns and manages the six-storey Suria KLCC shopping mall here. 

“The upsizing of the sukuk murabahah programme and the revision of terms have taken effect on Dec 31, 2024, after the maturity of the outstanding sukuk murabahah, and will be applicable in respect of the 2024 sukuk murabahah issuance and such other subsequent issuances under the programme,” it added.

The programme has a perpetual tenure and has been accorded a long-term rating of AAA by RAM Rating Services Bhd, according to KLCCP.

Proceeds raised from issuances under the programme will be used for shariah-compliant purposes comprising financing requirements, working capital, acquisitions, investments and capital expenditure.

The programme’s sole principal adviser, lead arranger and lead manager is CIMB Investment Bank Bhd. CIMB Islamic Bank Bhd is the sole shariah adviser.

KLCCP units ended nine sen or 1.12% higher at RM8.15 on Tuesday, valuing the group at RM14.7 billion.

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