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Axiata confirms US$1b sukuk issuance plan

KUALA LUMPUR: Axiata Group Bhd will be issuing sukuk of up to US$1 billion (US$1 = RM4.26) with four banks arranging the issuance, namely CIMB Bank, UBS Bank, Citibank and Standard Chartered Bank.

Deputy group chief executive officer Datuk Izzadin Idris said the issuance would be for a long-term period of between 10 years and a maximum of 30 years.

“Half of that (the money raised from the sukuk issuance) will be utilised for refinancing. We expect to conduct the exercise by next month,” he said after the company’s AGM on Wednesday.

This issuance will be the largest by a corporate in the country since 2015 when Petroliam Nasional Bhd (Petronas) sold US$1.25 billion worth of sukuk. – Bernama

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