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Monday, October 2, 2023

Launch Partners

KPJ Healthcare’s subsidiary Point Zone issues sustainable Sukuk worth RM555 million

MALAYSIA: Point Zone, a subsidiary of KPJ Healthcare, has on the 6th March 2023 launched its sustainability Sukuk offering worth a total of RM555 million (US$122.65 million) under its RM3 billion (US$662.98 million) Sukuk Wakalah program, Bernama reported.

Proceeds from the sustainable Sukuk, which was upsized from an initial size of RM450 million (US$99.45 million), will be used by KPJ in accordance with the criteria set out in its sustainability Sukuk framework.

The Sukuk facility has three tranches: a five-year offering carrying a 4.5% profit rate; a seven-year tranche with a 4.69% profit rate; and a 10-year portion with a 4.86% profit rate.

Maybank Investment Bank and OCBC Al-Amin Bank are the mandated joint principal advisors, joint lead arrangers and joint sustainability structuring advisors for the Sukuk program, while Affin Hwang Investment Bank, HSBC Amanah Malaysia, Maybank Investment Bank and OCBC Al-Amin acted as the joint lead managers.

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