AME REIT to establish RM1b sukuk programme

• The sukuk wakalah programme will have a perpetual tenure, with the first issuance expected within 90 business days from the date of lodgement or within a time frame specified by the SC.

KUALA LUMPUR (Jan 10): AME Real Estate Investment Trust (KL:AMEREIT), a 49.62%-owned unit of AME Elite Consortium Bhd (KL:AME), is planning to establish a sukuk wakalah programme with a value of up to RM1 billion.

AME REIT Sukuk Sdn Bhd, a special purpose vehicle wholly owned by AME REIT, submitted a proposal to the Securities Commission Malaysia (SC) on Friday for the establishment of Islamic medium-term notes, the proceeds of which will be used for working capital, capital expenditure, asset enhancement, investments, refinancing, and general corporate purposes.

The sukuk wakalah programme will have a perpetual tenure, with the first issuance expected within 90 business days from the date of lodgement or within a time frame specified by the SC, AME REIT said in a bourse filing.

The programme will allow AME REIT Sukuk the flexibility to issue either sustainability sukuk wakalah or sustainability-linked sukuk wakalah.

Maybank Investment Bank Bhd has been appointed as the principal adviser, lead arranger, and lead manager, while Maybank Islamic Bhd is the shariah adviser for the programme.

Units of AME REIT closed unchanged at RM1.45 on Friday, valuing the REIT at RM764.4 million.

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