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Monday, December 5, 2022

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Malaysian highway concessionaire Amanat Lebuhraya Rakyat prices sustainability Sukuk Murabahah at RM5.5 billion (US$1.18 billion)

MALAYSIA: Amanat Lebuhraya Rakyat (ALR), a private holding company of highway concessions in Malaysia, has priced its sustainability Sukuk Murabahah at RM5.5 billion (US$1.18 billion) in nominal value, on the 23rd September 2022.

According to a statement, the orderbook for the Sukuk paper, which is parked under ALR’s inaugural senior SRI Murabahah program, was oversubscribed by investors “despite the heightened market volatility”.

ALR is currently working toward practical completion of the transaction with the Malaysian government, with the final completion to be expected by early to mid-October 2022, it said.

AmInvestment Bank, CIMB Investment Bank and Hong Leong Investment Bank were the joint principal advisors, joint lead arrangers and joint lead managers for the Sukuk program, while Maybank Investment Bank, RHB Investment Bank and United Overseas Bank (Malaysia) also acted as joint lead managers.

Proceeds from the Islamic facility will be used by ALR to finance its acquisition of four highway concession companies, the plans for which it had announced in April 2022. Share this:

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