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OTHERS ISSUANCE OF ISLAMIC MEDIUM TERM NOTES ("IMTN") UNDER THE IMTN PROGRAMME OF UP TO RM500.0 MILLION IN NOMINAL VALUE ("IMTN PROGRAMME"), WHICH TOGETHER WITH AN ISLAMIC COMMERCIAL PAPERS PROGRAMME OF UP TO RM100.0 MILLION IN NOMINAL VALUE ("ICP PROGRAMME"), SHALL HAVE A COMBINED AGGREGATE LIMIT OF RM500.0 MILLION IN NOMINAL VALUE, BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR (COLLECTIVELY, THE ICP PROGRAMME AND THE IMTN PROGRAMME ARE REFERRED TO AS THE "SUKUK WAKALAH PROGRAMMES")
GEORGE KENT (MALAYSIA) BERHAD
Type
Announcement
Subject
OTHERS
Description
ISSUANCE OF ISLAMIC MEDIUM TERM NOTES ("IMTN") UNDER THE IMTN PROGRAMME OF UP TO RM500.0 MILLION IN NOMINAL VALUE ("IMTN PROGRAMME"), WHICH TOGETHER WITH AN ISLAMIC COMMERCIAL PAPERS PROGRAMME OF UP TO RM100.0 MILLION IN NOMINAL VALUE ("ICP PROGRAMME"), SHALL HAVE A COMBINED AGGREGATE LIMIT OF RM500.0 MILLION IN NOMINAL VALUE, BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR (COLLECTIVELY, THE ICP PROGRAMME AND THE IMTN PROGRAMME ARE REFERRED TO AS THE "SUKUK WAKALAH PROGRAMMES")
1. INTRODUCTION
Reference is made to the previous announcements dated 14 January 2021 and 26 March 2021 in relation to the Sukuk Wakalah Programmes.
George Kent (Malaysia) Berhad (the "Company" or "George Kent") is pleased to announce that the Company had on 26 March 2026 successfully completed its issuance of the IMTN of RM80.0 million in nominal value under the IMTN Programme.
2. ISSUANCE DETAILS
The issuance details of the IMTN is summarised below:
Issue size:
RM80,000,000.00
Tenure of issue:
3 years
Issue rating:
A+is (stable) by Malaysian Rating Corporation Berhad
Periodic distribution rate:
6.00% p.a.
Utilisation of proceeds:
The proceeds from the issuance of the IMTN shall be utilised by the Issuer to refinance existing borrowings/financings and also to refinance future Islamic financings which include any outstanding IMTN (whether in whole or part)
3. ADVISERS
AmInvestment Bank is the Sole Principal Adviser and Lead Arranger of the Sukuk Wakalah Programmes, whilst AmBank Islamic Berhad is the Shariah Adviser for the Sukuk Wakalah Programmes. For this issuance, Affin Hwang Investment Bank is the sole Lead Manager.