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Wednesday, December 25, 2013
Malaysia's Telecommunication Maxis eyes MYR10bil sukuk
Malaysia's Telecommunication Maxis eyes RM10bil sukuk
is said to be planning to issue up to RM10bil worth of Islamic bonds over the next two years to refinance the group’s current borrowings and for working capital purposes.
The sukuk will be issued by the telco’s wholly owned unit
BGSM Management Sdn Bhd
CIMB Investment Bank Bhd
is the adviser for the deal, according to a
Meanwhile, 4.875 billion Maxis shares were traded off-market on Monday at RM7 apiece. The shares represent a 65% stake in the company and equals the number of shares owned by tycoon
T Ananda Krishnan
Bankers said the transaction could be linked to the planned sukuk sale.
Maxis last sold Islamic bonds six years ago with maturities of five to 50 years.
Channel Muslim Media
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