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OTHERS ECO WORLD DEVELOPMENT GROUP BERHAD ("ECOWORLD MALAYSIA") ISSUANCE OF RM550.0 MILLION SUKUK WAKALAH ("SUKUK WAKALAH") PURSUANT TO A RATED SUKUK WAKALAH PROGRAMME OF RM1.2 BILLION IN NOMINAL VALUE BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR ("SUKUK WAKALAH PROGRAMME")

ECO WORLD DEVELOPMENT GROUP BERHAD

Type Announcement
Subject OTHERS
Description
ECO WORLD DEVELOPMENT GROUP BERHAD ("ECOWORLD MALAYSIA")

ISSUANCE OF RM550.0 MILLION SUKUK WAKALAH ("SUKUK WAKALAH") PURSUANT TO A RATED SUKUK WAKALAH PROGRAMME OF RM1.2 BILLION IN NOMINAL VALUE BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR ("SUKUK WAKALAH PROGRAMME")

EcoWorld Malaysia wishes to announce that its wholly-owned subsidiary, Eco World Capital Berhad, has established a rated Sukuk Wakalah Programme of RM1.2 billion in nominal value, and had on 31 October 2022 successfully issued its maiden RM550.0 million rated Sukuk Wakalah with a tenure of 5 years (“Sukuk Issuance”) under the Sukuk Wakalah Programme.

 

The Sukuk Wakalah Programme is guaranteed by EcoWorld Malaysia and it has been assigned a final credit rating of AA- IS(CG) with a stable outlook by MARC Ratings Berhad.

 

Proceeds from the Sukuk Issuance shall be utilised for:

 

  1. working capital requirements, capital expenditures and Shariah-compliant investments of EcoWorld Malaysia and its subsidiaries (“EcoWorld Malaysia Group”) and/or of any joint ventures which the EcoWorld Malaysia Group is a party to;
  2. general corporate purposes of the EcoWorld Malaysia Group and/or of any joint ventures which the EcoWorld Malaysia Group is a party to; and/or
  3. refinancing of any existing financing/borrowings or future Shariah-compliant financing obligations of the EcoWorld Malaysia Group and/or of any joint ventures which the EcoWorld Malaysia Group is a party to.

 

CIMB Investment Bank Berhad, HSBC Amanah Malaysia Berhad and Maybank Investment Bank Berhad are the Joint Principal Advisers and Joint Lead Arrangers for the Sukuk Wakalah Programme. CIMB Investment Bank Berhad, HSBC Amanah Malaysia Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad are the Joint Lead Managers for the Sukuk Issuance.

 

 

This announcement is dated 31 October 2022. 






Announcement Info

Company Name ECO WORLD DEVELOPMENT GROUP BERHAD
Stock Name ECOWLD
Date Announced 31 Oct 2022
Category General Announcement for PLC
Reference Number GA1-30102022-00002


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